Middle East crude benchmark premiums for Oman and Dubai edged higher on Wednesday, but the Murban premium inched lower.

SINGAPORE CASH DEALS

Cash Dubai’s premium to swaps rose 1 cent to $1.82 a barrel.

NEWS

Geopolitical risk premium gauges in the oil market have decreased slightly this week, following sharp increases last week in both Brent implied volatility and call options implied volatility skew, Goldman Sachs said.

Global and U.S. oil demand growth next year will not meet prior forecasts due to weakening economic activity in China and North America, the U.S. Energy Information Administration (EIA) said.

Russia plans to take offline 4.0 million metric tons of refining capacity in October, an increase of 67% from an earlier plan, to carry out maintenance.
Source: Reuters (Reporting by Sudarshan Varadhan; Editing by Shilpi Majumdar)