Middle East Crude-Benchmarks gain after Saudi hikes September OSP

Reuters
Aug 07
Middle East Crude-Benchmarks gain after Saudi hikes September OSP

SINGAPORE, Aug 7 (Reuters) - Middle East crude benchmarks spot premiums of Dubai, Murban and Oman gained on Thursday, after Saudi Arabia hiked its September crude oil prices for Asian buyers for a second consecutive month on tight supply and robust demand.

Saudi Arabia raised the official selling price for the flagship Arab light crude it sells to Asia in September to plus $3.20 a barrel above the Oman/Dubai average, state oil company Aramco said in a statement, up $1 from the August premium.

The September OSPs to Asia for other crude grades - Arab Extra Light, Arab Medium and Arab Heavy - gained 70 cents to $1.20 a barrel from August, the statement showed.

SINGAPORE CASH DEALS

Cash Dubai's premium to swaps rose 21 cents to $2.88 a barrel.

Unipec will deliver an October-loading Upper Zakum crude cargo to Vitol following the deals.

SELLER-BUYER

PRICE ($/BBL)

UNIPEC-TRAFIGURA

69.35

UNIPEC-TRAFIGURA

69.35

SINOCHEM-TRAFIGURA

69.35

UNIPEC-TRAFIGURA

69.35

HENGLI-TRAFIGURA

69.35

SINOCHEM-TRAFIGURA

69.35

GUNVOR-TRAFIGURA

69.36

UNIPEC-TRAFIGURA

69.36

UNIPEC-TRAFIGURA

69.36

UNIPEC-TRAFIGURA

69.36

UNIPEC-TRAFIGURA

69.35

BP-TRAFIGURA

69.37

UNIPEC-TRAFIGURA

69.36

UNIPEC-PETROCHINA

69.35

UNIPEC-TRAFIGURA

69.36

PHILLIPS 66-PETROCHINA

69.35

GUNVOR-TRAFIGURA

69.36

RELIANCE-TRAFIGURA

69.36

UNIPEC-PETROCHINA

69.35

UNIPEC-TRAFIGURA

69.36

RELIANCE-PETROCHINA

69.32

EXXONMOBIL-TRAFIGURA

69.36

GUNVOR-TRAFIGURA

69.36

UNIPEC-TRAFIGURA

69.36

HENGLI-TRAFIGURA

69.40

UNIPEC-PETROCHINA

69.32

EXXONMOBIL-TRAFIGURA

69.36

UNIPEC-PETROCHINA

69.32

UNIPEC-VITOL

69.35

RELIANCE-PETROCHINA

69.32

UNIPEC-TRAFIGURA

69.33

UNIPEC-PETROCHINA

69.32

UNIPEC-TRAFIGURA

69.33

UNIPEC-PETROCHINA

69.32

PRICES ($/BBL)

CURRENT

PREV SESSION

GME OMAN

69.31

70.26

GME OMAN DIFF TO DUBAI

2.87

2.63

CASH DUBAI

69.32

70.30

NEWS

Indian private refiner Nayara Energy, which was last month sanctioned by the European Union, has sought help from India's shipping ministry to get vessels for the movement of its refined fuels, a government source said on Thursday.

Indian refiners are awaiting government directions on whether to continue buying Russian oil after the United States decided to impose fresh 25% tariffs on Indian goods over New Delhi's energy ties with Russia, four industry sources said.

OPEC+ oil producers have used high summer demand to launch their first output increases in three years, but those targets have proved difficult to hit, leaving the market surprisingly tight.

U.S. President Donald Trump on Wednesday said he could announce further tariffs on China similar to the 25% duties announced earlier on India over its purchases of Russian oil, depending on what happens.

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 Mrigank Dhaniwala)

((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

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10