Middle East crude benchmark premiums for Oman, Dubai and Murban all trended lower on Monday.

SINGAPORE CASH DEALS

Cash Dubai’s premium to swaps fell 5 cents to $0.52 a barrel.

Trafigura will deliver a January-loading al-Shaheen crude cargo to Equinor following the deals.

REFINERY

At least three Russian refineries had to halt processing or cut runs due to heavy losses amid export curbs, rising crude prices and high borrowing costs, according to five industry sources.

NEWS

President-elect Donald Trump said on Saturday that oil and gas industry executive Chris Wright, a staunch defender of fossil fuel use, would be his pick to lead the Department of Energy.

The founder of collapsed Singaporean oil trading firm Hin Leong Trading Pte Ltd was sentenced to 17-1/2 years in prison on Monday for cheating global bank HSBC and abetting forgery, local media reported.

China’s refined fuel exports fell to an 18-month low in October, customs data showed on Monday, as weak export margins continued to weigh on shipments.
Source: Reuters (Reporting by Siyi Liu in Singapore; Editing by Tasim Zahid)