Middle East Crude-Benchmarks rises for fourth day on Iran conflict

Reuters
Mar 05
Middle East Crude-Benchmarks rises for fourth day on Iran conflict

SINGAPORE, March 5 (Reuters) - Middle East crude benchmarks Oman, Dubai and Murban surged on Thursday to its highest in at least five years, extending a three-day rally as the escalating U.S.-Israeli war with Iran continued to disrupt supplies.

Around 300 oil tankers remained inside the Strait of Hormuz as vessel traffic at the chokepoint nearly halted following the outbreak of war, according to ship tracking data from Vortexa and Kpler that excludes some of the smallest tankers.

Iranian forces have struck oil tankers in or near the strait. Explosions were reported overnight near a tanker off Kuwait, according to the United Kingdom Maritime Trade Operations.

Iran launched a wave of missiles at Israel early on Thursday, sending millions of residents into bomb shelters as the conflict entered its sixth day, and just hours after moves to halt the U.S. attacks were blocked in Washington.

SINGAPORE CASH DEALS

Cash Dubai's premium to swaps rose $6.85 to $19.63 a barrel.

Vitol, BP, Phillips 66, Shell and Trafigura will each deliver a May-loading Murban crude to TotalEnergies following the deals.

SELLER-BUYER

PRICE ($/BBL)

TRAFIGURA-TOTAL

94.95

TRAFIGURA-TOTAL

94.95

PHILLIPS 66-TOTAL

94.95

PHILLIPS 66-TOTAL

94.95

PHILLIPS 66-TOTAL

94.95

PHILLIPS 66-TOTAL

94.95

PHILLIPS 66-TOTAL

94.95

TRAFIGURA-TOTAL

94.95

VITOL-TOTAL

94.95

TRAFIGURA-TOTAL

94.95

SHELL-TOTAL

94.95

VITOL-TOTAL

94.95

PHILLIPS 66-TOTAL

94.95

PHILLIPS 66-TOTAL

94.95

SHENGHONG-TOTAL

94.95

VITOL-TOTAL

94.95

PHILLIPS 66-TOTAL

94.95

VITOL-TOTAL

94.95

BP-TOTAL

94.95

PHILLIPS 66-TOTAL

94.95

VITOL-TOTAL

94.95

SHELL-TOTAL

94.95

BP-TOTAL

94.95

SHELL-TOTAL

94.95

VITOL-TOTAL

94.95

BP-TOTAL

94.95

BP-TOTAL

94.95

SHELL-TOTAL

94.95

VITOL-TOTAL

94.95

VITOL-TOTAL

94.95

SHELL-TOTAL

94.95

SHENGHONG-TOTAL

94.95

VITOL-TOTAL

94.95

SHELL-TOTAL

94.95

SHELL-TOTAL

94.95

PHILLIPS 66-TOTAL

94.95

VITOL-TOTAL

94.95

GUNVOR-TOTAL

94.95

BP-TOTAL

94.95

SHELL-HENGLI

91.30

GUNVOR-TOTAL

94.95

VITOL-TOTAL

94.95

PHILLIPS 66-TOTAL

94.95

SHELL-TOTAL

94.95

VITOL-TOTAL

94.95

PHILLIPS 66-TOTAL

94.95

VITOL-TOTAL

94.95

TRAFIGURA-TOTAL

94.95

VITOL-TOTAL

94.95

GUNVOR-TOTAL

94.95

VITOL-TOTAL

94.95

PHILLIPS 66-TOTAL

94.95

VITOL-TOTAL

94.95

BP-TOTAL

94.95

SHELL-HENGLI

91.30

BP-TOTAL

94.95

VITOL-TOTAL

94.95

TRAFIGURA-TOTAL

94.95

VITOL-TOTAL

94.95

TRAFIGURA-HENGLI

91.30

SHELL-TOTAL

94.95

VITOL-TOTAL

94.95

SHELL-TOTAL

94.95

TRAFIGURA-TOTAL

94.95

PHILLIPS 66-TOTAL

94.95

SHELL-TOTAL

94.95

SHELL-TOTAL

94.95

SHELL-TOTAL

94.95

TRAFIGURA-TOTAL

94.95

RELIANCE-TOTAL

94.95

VITOL-TOTAL

94.95

GUNVOR-TOTAL

94.95

TRAFIGURA-TOTAL

94.95

TRAFIGURA-TOTAL

94.95

TRAFIGURA-HENGLI

91.30

GUNVOR-TOTAL

94.95

PRICES ($/BBL)

CURRENT

PREV SESSION

GME OMAN

94.47

85.93

GME OMAN DIFF TO DUBAI

19.15

12.36

CASH DUBAI

94.95

86.35

NEWS

China has asked refiners to halt signing new contracts to export fuel and to try to cancel shipments already committed as tight oil supply due to the Iran war curbs refinery output, several people with knowledge of the matter said on Thursday.

China set an annual oil output target of 200 million metric tons (4 million barrels per day) in its next five-year plan on Thursday, a level it already surpassed last year, as the country also pledged to expand the size of its undisclosed strategic oil reserves.

India is in talks with major oil producers and traders to buy crude oil and liquefied petroleum gas, a source from the government said on Thursday.

Indonesia has announced plans to offer 10 new oil and gas blocks to investors in an attempt to boost its reserves, its energy ministry said.

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 Harikrishnan Nair)

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

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