Middle East crude benchmark spot premiums of Oman and Dubai rose on Thursday from near two-week lows touched in previous session, as Middle East tension still hover around supply outlook

Taiwan’s CPC purchased around 2 million barrels of September-arrival WTI crude from Oxy at a premium of $5 to August dated Brent prices, traders said.

SINGAPORE CASH DEALS

Cash Dubai’s premium to swaps rose 25 cents to $2.29 a barrel.

NEWS

Shell SHEL has not bid for BP BP. and is not actively considering such a move, it said on Thursday, adding it was bound by UK regulations, which mean such a statement ban it from making a bid for BP for the next six months.

Equinor EQNR and its partners Vaar Energi VAR and Inpex Idemitsu will invest more than 21 billion Norwegian crowns ($2.08 billion) to develop Norway’s Fram South oil and gas field, the companies said on Thursday.

The U.S. sent letters to Enterprise Products EPD and Energy Transfer ET on Wednesday informing the companies they could load ethane on vessels destined for China but could not unload it in China without authorization, according to a person familiar with the matter and copy of one letter.

Indian refiners’ throughput in May rose 0.4% year-on-year to 5.47 million barrels per day (23.11 million metric tons), provisional government data showed on Thursday.

President Donald Trump said on Wednesday that the U.S. has not given up its maximum pressure on Iran – including restrictions on sales of Iranian oil – but signaled a potential easing in enforcement to help the country rebuild.
Source: Reuters