Middle East crude benchmark premiums fell for the second straight day on Tuesday.

Spot premiums for the three benchmark grades traded in a range of 48-56 U.S. cents on Tuesday, compared with 60-65 cents on Monday.

Oil giant Saudi Aramco 2222.SE on Tuesday reported a 3.4% fall in second-quarter profit on lower crude volumes and softer refining margins, yet kept its generous dividend policy unchanged, with $31.1 billion in payouts for the quarter.

The Trans Mountain oil pipeline expansion (TMX) was meant to shrink the discount on Canadian oil versus U.S. crude but three months in the differential is wider than when commercial operations on the project started.

A string of dramatic revisions to official U.S. oil consumption data have unnerved market participants who rely on the figures to trade.
Source: Reuters (Reporting by Sudarshan Varadhan; Editing by Mrigank Dhaniwala)