Middle East crude benchmark spot premiums of Oman, Dubai and Muban were unchanged on Monday, as oil prices held steady after a sharp drop in the previous week.

The market also awaited Saudi Arabia’s April crude oil allocation after the kingdom lowered its official selling prices to Asia on Friday for the first time in three months.

SINGAPORE CASH DEALS

Cash Dubai’s premium to swaps fell 2 cents to $1.35 a barrel.

PetroChina will deliver a May-loading Upper Zakum crude cargo to Vitol following the deals.

REFINERY

A tank at Russia’s Kirishi oil refinery, one of the country’s largest, was damaged by falling debris during a major Ukrainian drone attack, the governor of the northwestern Leningrad region said on Saturday.

NEWS

The U.S. government is studying ways it could ease sanctions on Russia’s energy sector as part of a broad plan to enable Washington to deliver swift relief if Moscow agrees to end the Ukraine war, according to two sources familiar with the matter.

Abu Dhabi National Oil Company is considering listing its international investment arm XRG on an exchange outside of the United Arab Emirates, three people with knowledge of the matter said, potentially creating one of the largest listed energy companies globally.

U.S. Energy Secretary Chris Wright estimates it would take $20 billion and years to accomplish President Donald Trump’s goal of refilling the Strategic Petroleum Reserve to its maximum capacity, the Energy Department said on Friday.

In one of his first meetings with oil and gas executives since being confirmed as U.S. energy secretary, Chris Wright said he intended to speed up permitting and support the industry, attendees told Reuters.
Source: Reuters