Middle East Crude-Benchmark premiums tick up

Reuters

Middle East Crude-Benchmark premiums tick up

Dec 19, 2024 at 10:59 am GMT

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SINGAPORE, Dec 19 (Reuters) -Middle East crude benchmark spot premiums of Oman, Dubai and Murban all rose on Thursday.

Oil prices wobbled on Thursday after the U.S. Federal Reserve signalled it would slow the pace of interest rate cuts in 2025, which could hurt economic growth, reduce fuel demand and strengthen the dollar.

SINGAPORE CASH DEALS

Cash Dubai's premium to swaps rose 3 cents to $0.97 a barrel.

Exxon, PetroChina and Equinor will all deliver a February-loading Upper Zakum crude cargo to Total following the deals.

Trafigura and Vito will both deliver a February-loading Oman crude cargo to Total following the deals.

SELLER-BUYER	PRICE ($/BBL)
VITOL-TOTAL	72.85
EXXONMOBIL-HENGLI	72.80
EXXONMOBIL-TOTAL	72.85
PETROCHINA-TOTAL	72.85
PHILLIPS 66-TOTAL	72.85
TRAFIGURA-TOTAL	72.85
EXXONMOBIL-HENGLI	72.80
VITOL-TOTAL	72.85
VITOL-TOTAL	72.85
VITOL-TOTAL	72.85
VITOL-GLENCORE	72.79
VITOL-MERCURIA	72.79
VITOL-HENGLI	72.80
VITOL-GLENCORE	72.79
EQUINOR-TOTAL	72.80
VITOL-MITSUI	72.75
EQUINOR-TOTAL	72.85
TRAFIGURA-TOTAL	72.85
PETROCHINA-TOTAL	72.85
PETROCHINA-MERCURIA	72.79
RELIANCE-TOTAL	72.85
VITOL-TOTAL	72.85
VITOL-TOTAL	72.85
VITOL-TOTAL	72.85
TRAFIGURA-TOTAL	72.85
VITOL-GLENCORE	72.79
EXXONMOBIL-TOTAL	72.85
PETROCHINA-TOTAL	72.86
UNIPEC-TOTAL	72.86
TRAFIGURA-TOTAL	72.85
EXXONMOBIL-TOTAL	72.85
PETROCHINA-TOTAL	72.86
UNIPEC-TOTAL	72.85
VITOL-TOTAL	72.85
VITOL-TOTAL	72.85
VITOL-TOTAL	72.85
VITOL-TOTAL	72.84
EXXONMOBIL-TOTAL	72.85
BP-TOTAL	72.85
PETROCHINA-TOTAL	72.85
VITOL-TOTAL	72.85
VITOL-TOTAL	72.85
PETROCHINA-TOTAL	72.85
RELIANCE-TOTAL	72.85
RELIANCE-TOTAL	72.85
PETROCHINA-TOTAL	72.85
VITOL-TOTAL	72.85
EXXONMOBIL-TOTAL	72.85
PETROCHINA-TOTAL	72.85
VITOL-TOTAL	72.85
RELIANCE-TOTAL	72.85
PETROCHINA-TOTAL	72.85
VITOL-TOTAL	72.85
UNIPEC-TOTAL	72.84
RELIANCE-TOTAL	72.85
PETROCHINA-TOTAL	72.85
VITOL-TOTAL	72.85
UNIPEC-TOTAL	72.85
PETROCHINA-TOTAL	72.85
VITOL-MITSUI	72.85
PETROCHINA-TOTAL	72.85
UNIPEC-TOTAL	72.85
PETROCHINA-MITSUI	72.85
PETROCHINA-TOTAL	72.85
VITOL-MITSUI	72.85
EXXONMOBIL-GLENCORE	72.84
EXXONMOBIL-TOTAL	72.84
UNIPEC-TOTAL	72.85
TRAFIGURA-TOTAL	72.88
EXXONMOBIL-MITSUI	72.85
VITOL-TOTAL	72.85
PETROCHINA-TOTAL	72.85
UNIPEC-MITSUI	72.85
PHILLIPS 66-TOTAL	72.90
PETROCHINA-TOTAL	72.86
VITOL-TOTAL	72.85
UNIPEC-MITSUI	72.85
EXXONMOBIL-TOTAL	72.85
EXXONMOBIL-TOTAL	72.86
UNIPEC-TOTAL	72.85
RELIANCE-HENGLI	72.84
VITOL-MITSUI	72.85
PETROCHINA-TOTAL	72.86
UNIPEC-TOTAL	72.86
RELIANCE-TOTAL	72.85
VITOL-TOTAL	72.85
PETROCHINA-TOTAL	72.86
UNIPEC-TOTAL	72.86
UNIPEC-TOTAL	72.86
VITOL-TOTAL	72.85
PETROCHINA-MERCURIA	72.86
UNIPEC-TOTAL	72.86

PRICES ($/BBL)

	CURRENT	PREV SESSION
GME OMAN	72.83	73.57
GME OMAN DIFF TO DUBAI	0.94	0.91
CASH DUBAI	72.86	73.60

REFINERY

Sinopec's 600028.SS Zhenhai refinery has completed its expansion of oil refining capacity to 40 million metric tons, or about 800,000 barrels per day (bpd).

NEWS

China's oil consumption is set to peak by 2027, state refining giant Sinopec said on Thursday, as diesel and gasoline demand weaken in the world's biggest oil importer, a slowdown that has rattled global oil markets this year.

U.S. crude and distillate inventories fell in the week ending Dec. 13 as exports surged, while gasoline stockpiles rose, the Energy Information Administration (EIA) said on Wednesday.

Oil operators in North Dakota, the third-largest producing state in the U.S., are still bringing some facilities back online after wildfires swept through key oil-producing counties in October, the state's Industrial Commission said on Wednesday.

For crude prices, oil product cracks and refining margins, please click on the RICs below.

Brent	BRENTSGMc1
Dubai	DUBSGSWMc2
GME Oman	OQc1
Brent/Dubai EFS	DUB-EFS-1M

PRODUCT CRACKS
Fuel oil crack	FO180SGCKMc1
Gasoil crack	GO10SGCKMc1
Naphtha crack	NAF-SIN-CRK
Gasoline crack	GL92-SIN-CRK
Complex refining margins	REF/MARGIN1

Reporting by Siyi Liu in Singapore; Editing by Varun H K

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