Middle East crude benchmarks Oman, Dubai and Murban extended gains on Monday to reach their highest premiums this month.

Taiwanese refiner CPC issued its monthly tender seeking sweet crude for June delivery. The tender will close March 18 with offers valid until March 20.

ASIA-PACIFIC CRUDE

PV Oil has sold its May-loading Chim Sao crude to Bangchak Petroleum at a premium of about $5.50 a barrel to dated Brent, traders said.

SINGAPORE CASH DEALS

Cash Dubai’s premium to swaps rose 15 cents to $1.57 a barrel.

PetroChina will deliver two May-loading Upper Zakum to Gunvor and Vitol following the deals.

REFINERY

One worker was killed and three other were injured in an explosion at an oil refinery in Russia’s city of Ryazan, TASS and RIA news agencies reported.

NEWS

China’s crude oil throughput in January and February rose 2.1% versus a year earlier, official data showed on Monday, supported by a new refinery and holiday travel, but weak refining margins persisted.

Asia’s ability to supply sustainable aviation fuel will outpace regional demand this year and the next as more production comes online, increasing exports and potentially lowering prices for the fuel, oil executives and analysts said.

Goldman Sachs has lowered its December 2025 and average 2026 forecasts for Brent and WTI crude oil prices, citing slower oil demand growth prospects and expectations of higher OPEC+ supply, it said in a note dated on Sunday.

Marine fuel sales in the United Arab Emirates’ Fujairah, the world’s third-largest bunkering hub, fell in February to their lowest since data started being published in 2021.

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Source: Reuters