Middle East Crude-Dubai premium hits 8-mth high, benchmarks average higher in Dec

Reuters
31 Dec 2024

SINGAPORE, Dec 31 (Reuters) - Middle East crude benchmark spot premium of Dubai climbed further on Tuesday to its highest since April, while that of Murban declined.

Benchmark premiums for Dubai, Murban and Oman all averaged above $1 a barrel in December, higher than in November and from a year earlier, thanks to rising demand from Asia.

SINGAPORE CASH DEALS

Cash Dubai's premium to swaps rose 16 cents to $2.40 a barrel.

For this month, Total bought 34 cargoes, or 17 million barrels.

SELLER-BUYER PRICE

($/BBL)

BP-TOTAL 76.05

VITOL-GLENCORE 76.00

VITOL-GLENCORE 76.00

UNIPEC-TOTAL 76.00

VITOL-GLENCORE 75.99

UNIPEC-MERCURIA 76.00

VITOL-GLENCORE 75.99

UNIPEC-TOTAL 76.00

VITOL-GLENCORE 75.99

UNIPEC-MERCURIA 76.00

VITOL-GLENCORE 75.99

UNIPEC-MERCURIA 76.00

TRAFIGURA-TOTAL 76.04

UNIPEC-TOTAL 76.00

UNIPEC-TOTAL 76.00

EXXONMOBIL-GLENCORE 75.99

UNIPEC-TOTAL 76.00

VITOL-GLENCORE 75.99

UNIPEC-TOTAL 76.00

UNIPEC-TOTAL 76.00

VITOL-MERCURIA 76.00

EXXONMOBIL-GLENCORE 75.99

UNIPEC-TOTAL 76.00

VITOL-MERCURIA 76.00

UNIPEC-TOTAL 75.95

UNIPEC-GLENCORE 75.99

UNIPEC-MERCURIA 75.95

UNIPEC-GLENCORE 75.99

UNIPEC-TOTAL 76.00

UNIPEC-TOTAL 75.95

UNIPEC-MITSUI 75.95

TRAFIGURA-MERCURIA 76.00

EXXONMOBIL-GLENCORE 75.99

UNIPEC-MERCURIA 75.95

VITOL-TOTAL 75.96

UNIPEC-MITSUI 75.95

RELIANCE-TOTAL 75.99

UNIPEC-GLENCORE 75.99

VITOL-TOTAL 75.96

UNIPEC-MERCURIA 75.95

RELIANCE-TOTAL 75.99

SHELL-TOTAL 75.99

UNIPEC-GLENCORE 75.99

UNIPEC-MITSUI 75.95

VITOL-TOTAL 75.96

EQUINOR-GLENCORE 75.96

RELIANCE-TOTAL 75.99

UNIPEC-MERCURIA 75.95

UNIPEC-GLENCORE 75.96

EQUINOR-GLENCORE 75.96

VITOL-TOTAL 75.96

SHELL-HENGLI 75.99

EXXONMOBIL-GLENCORE 75.96

UNIPEC-TOTAL 75.98

EQUINOR-HENGLI 75.96

VITOL-HENGLI 75.96

EXXONMOBIL-TOTAL 75.96

UNIPEC-TOTAL 75.98

UNIPEC-GLENCORE 75.96

EXXONMOBIL-HENGLI 75.96

EQUINOR-TOTAL 75.96

RELIANCE-HENGLI 75.99

EXXONMOBIL-TOTAL 75.96

EQUINOR-HENGLI 75.96

UNIPEC-TOTAL 75.98

UNIPEC-GLENCORE 75.96

VITOL-TOTAL 75.96

EQUINOR-HENGLI 75.96

EXXONMOBIL-TOTAL 75.96

UNIPEC-GLENCORE 75.96

EQUINOR-MERCURIA 75.96

EXXONMOBIL-TOTAL 75.96

RELIANCE-HENGLI 75.96

EXXONMOBIL-TOTAL 75.96

EQUINOR-HENGLI 75.96

VITOL-TOTAL 75.96

RELIANCE-GLENCORE 75.96

UNIPEC-TOTAL 75.95

TRAFIGURA-HENGLI 75.96

EQUINOR-TOTAL 75.96

UNIPEC-MERCURIA 75.95

EXXONMOBIL-GLENCORE 75.96

RELIANCE-HENGLI 75.96

UNIPEC-TOTAL 75.95

SHELL-TOTAL 75.95

EQUINOR-GLENCORE 75.96

UNIPEC-TOTAL 75.95

EXXONMOBIL-TOTAL 75.96

VITOL-HENGLI 75.96

RELIANCE-TOTAL 75.96

UNIPEC-TOTAL 75.95

SHELL-HENGLI 75.95

UNIPEC-GLENCORE 75.95

BP-TOTAL 75.96

UNIPEC-MERCURIA 75.95

EXXONMOBIL-TOTAL 75.96

EQUINOR-TOTAL 75.96

UNIPEC-GLENCORE 75.95

RELIANCE-HENGLI 75.95

UNIPEC-MERCURIA 75.95

VITOL-GLENCORE 75.91

SHELL-HENGLI 75.95

UNIPEC-GLENCORE 75.95

BP-TOTAL 75.96

RELIANCE-GLENCORE 75.95

UNIPEC-TOTAL 75.95

VITOL-GLENCORE 75.91

UNIPEC-GLENCORE 75.95

UNIPEC-GLENCORE 75.95

RELIANCE-HENGLI 75.95

UNIPEC-GLENCORE 75.95

EXXONMOBIL-TOTAL 75.96

VITOL-MERCURIA 75.91

RELIANCE-HENGLI 75.95

PRICES ($/BBL)

CURRENT PREV SESSION

CASH DUBAI 75.95 75.33

REFINERY

Nigeria said on Monday it had resumed some operations at its Warri oil refinery after almost a decade of shutdowns, one of a string of long-running failures that have left Africa's largest crude exporter importing most of its fuel.

NEWS

The official selling price $(OSP.AU)$ for Oman crude in February will rise by $0.70 to $73.16 a barrel, Reuters calculations based on data from the Gulf Mercantile Exchange $(GME)$ showed on Tuesday.

Iran appointed oil ministry official Ali-Mohammad Mousavi as its new representative to the Organization of the Petroleum Exporting Countries, replacing Afshin Javan, the Oil Ministry's SHANA news agency reported on Tuesday.

State-run Sinochem Group has received a crude oil import quota of 17.12 million metric tons for 2025, which will be for the group's eastern China refineries, a company official said on Tuesday.

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

Brent

Dubai

GME Oman

Brent/Dubai EFS

PRODUCT CRACKS

Fuel oil crack

Gasoil crack

Naphtha crack

Gasoline crack

Complex refining margins

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

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

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