SINGAPORE, March 4 (Reuters) - Middle East crude benchmarks Oman, Dubai and Murban jumped on Wednesday in their third straight daily rise to their highest since March 2022 as the escalating Middle East conflict has disrupted supply.

Oil prices rose 3% on Wednesday, but the pace of gains slowed from past sessions after President Donald Trump suggested the U.S. Navy could escort vessels through the Strait of Hormuz. O/R

Brent's premium to Dubai soared to $10.42 per barrel, the highest since July 2022.

TENDER

China's Shenghong Petrochemical International has offered 950,000 barrels of Iraqi Basrah Heavy crude for March delivery at a Chinese port, traders said, a rare tender by the Chinese company after the Iran war disrupted Middle Eastern supply.

Totsa, the trading arm of TotalEnergies TTEF.PA, has offered to sell up to two million barrels of April-loading Oman crude, traders said, the first tender for Middle East oil sales since the Iran war disrupted supply in the region.

Both tenders closed on Wednesday, they said.

SINGAPORE CASH DEALS

Cash Dubai's premium to swaps rose $4.96 to $12.78 a barrel.

Shell, BP and Vitol will each deliver a May-loading Murban crude cargo to TotalEnergies following the deals.

Shell will deliver a May-loading Oman crude cargo to TotalEnergies following the deals.

PRICES ($/BBL)

NEWS

The U.S. Navy could begin escorting oil tankers through the Strait of Hormuz if necessary, President Donald Trump said on Tuesday, adding he had ordered the U.S. International Development Finance Corporation to provide political risk insurance and financial guarantees for maritime trade in the Gulf.

Crude oil supplies from Iraq and Kuwait could start shutting in within days if the Strait of Hormuz remains closed, potentially cutting 3.3 million barrels per day by day eight of the Middle East conflict, J.P. Morgan analysts said in a note.

Goldman Sachs GS.N raised on Wednesday its second-quarter 2026 average price forecast for Brent crude oil by $10 to $76 per barrel and for WTI by $9 to $71.

Asian refiners dependent on Middle East crude are expected to cut output soon because they are unable to get prompt replacement cargoes after the U.S.-Iran war brought shipping in the Gulf to a standstill, four traders and three analysts said.

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

(Reporting by Siyi Liu in Singapore; Editing by Mrigank Dhaniwala)

((siyi.liu@thomsonreuters.com;))

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