Middle East Crude-Benchmarks climb; post weekly decline

Reuters
08/15
Middle East Crude-Benchmarks climb; post weekly decline

SINGAPORE, Aug 15 (Reuters) - Middle East crude benchmark spot premiums of Dubai, Oman and Murban climbed on Friday ahead of the summit between Donald Trump and Vladimir Putin, but posted weekly declines amid rising supply outlook.

QatarEnergy has lowered the term price for al-Shaheen crude oil loading in October, setting it at $2.52 a barrel above Dubai quotes, sources said on Friday.

That marked a decline of 81 cents from the $3.33 a barrel for September-loading oil, a five-month high.

Qatar sold al-Shaheen oil to CNOOC, OQ and Idemitsu Kosan at a premium of around $2.30-2.55 per barrel above Dubai prices, the sources said.

Separately, Qatar awarded a Qatar Marine crude cargo at a premium of about $1.70 a barrel to PTT, and a Qatar Land cargo to OQ at a premium at $2.05 per barrel, according to the sources.

Indian Oil Corp IOC.NS has bought two million barrels of U.S. West Texas Intermediate crude for October delivery, three trade sources said on Friday.

It purchased the cargoes from Mercuria at a premium of $2.80-2.90 a barrel to dated Brent, they added, speaking on condition of anonymity.

SINGAPORE CASH DEALS

Cash Dubai's premium to swaps rose 10 cents to $2.43 a barrel.

SELLER-BUYER

PRICE ($/BBL)

GLENCORE-TRAFIGURA

68.15

GLENCORE-PETROCHINA

68.15

GUNVOR-TRAFIGURA

68.15

GUNVOR-PETROCHINA

68.15

PHILLIPS 66-TRAFIGURA

68.15

PHILLIPS 66-PETROCHINA

68.15

PHILLIPS 66-PETROCHINA

68.16

PHILLIPS 66-TRAFIGURA

68.16

HENGLI-PETROCHINA

68.16

UNIPEC-PETROCHINA

68.16

EXXONMOBIL-TRAFIGURA

68.16

EXXONMOBIL-PETROCHINA

68.16

EXXONMOBIL-VITOL

68.19

EXXONMOBIL-VITOL

68.19

EXXONMOBIL-VITOL

68.19

EXXONMOBIL-VITOL

68.19

PHILLIPS 66-PETROCHINA

68.18

HENGLI-TRAFIGURA

68.18

EXXONMOBIL-VITOL

68.19

RELIANCE-PETROCHINA

68.18

EXXONMOBIL-VITOL

68.19

EXXONMOBIL-PETROCHINA

68.19

RELIANCE-PETROCHINA

68.19

UNIPEC-TRAFIGURA

68.20

EXXONMOBIL-TRAFIGURA

68.19

RELIANCE-PETROCHINA

68.19

EXXONMOBIL-TOTAL

68.19

RELIANCE-VITOL

68.20

PRICES ($/BBL)

CURRENT

PREV SESSION

GME OMAN

68.19

67.66

GME OMAN DIFF TO DUBAI

2.43

2.28

CASH DUBAI

68.19

67.71

NEWS

China’s crude oil throughput in July rose 8.9% from a year earlier, official data showed on Friday, as state-owned refineries maintained high operating rates.

China's Zhenhua Oil is set to double its oil offtake from Abu Dhabi National Oil Co to 200,000 barrels per day after taking on a new role leading development of one of the exporter's top oilfields, three Chinese industry sources said.

China's Changyi Petrochemical, recently sold by state-owned Sinochem Group to independent refiner Hongrun Petrochemical, has received a crude import quota for 2025 and used it to buy Brazilian oil, multiple trade sources said on Friday.

Shell SHEL.L said on Thursday that a planned overhaul on the gasoline-producing unit at its 231,827 barrel-per-day Norco, Louisiana, refinery would begin on Friday, confirming a Reuters report.

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 Leroy Leo)

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

RECENT CRUDE OIL TRADES:
Asia ACRU/T  Europe CRU/T Americas CRU/TU
      
CRUDE OIL MARKET NEWS      
Crude oil tenders in Asia                       CRU/TENDA
Crude oil supply outages in Asia                CRU/OUT-ASIA-O      
Refinery outages in Asia                        REF/OUT-ASIA-O      
Global arbitrage news and flows                 O/CRUDEARB      
W.African crude imports to Asia,  monthly       O/WAFRICA1      
REFINERY MAINTENANCE DIARIES      
Asia REF/A   Middle East REF/ME   Europe REF/E      
                       
NATIONAL CRUDE IMPORT DATA      
Japan     METI/JP1   China   O/CHINA1      
India     O/INDIA2   S.Korea O/KOREA1      
Indonesia O/INDO1-CRU         
                       
CRUDE OIL INVENTORY DATA      
Japan O/JAPAN1  US EIA/S  Europe O/EUROIL1      
                    
CRUDE OIL PRODUCTION/OILFIELD NEWS      
OPEC output survey OPEC/O          New Africa fields    AFR/NEW 
New projects       ENERGY/NEW      New Americas  fields AM/NEW
CRUDE OIL MARKET REPORTS      
Middle East             CRU/MAsia-Pacific         CRU/AP      
West Africa             CRU/WAF  North Sea            CRU/E      
Asia outlook            ASIA/CRU Europe outlook       EUR/CRU      
Global futures report   O/R      Technicals report    O/I      
                            
PRICES      
For all Official Selling  Prices       OSP/O      
For a POLL on oil  prices              O/POLL      
NYMEX and ICE oil  futures             OILOIL      
TOCOM crude oil  futures               0#JCO:      
Dubai, Oman swaps and  spread          ASIA/SWAP/CRUDE      
Middle East physical crude diffs       CRUDE/ASIA2      
Australia physical crude, Tapis swaps  CRUDE/ASIA1      
Asia-Pacific physical crude            CRUDE/ASIA3      
All Asian crude oil  differentials     0#C-DIF-A
All Asian crude oil outright  prices   0#C-A

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