Middle Eastern crude benchmarks Oman, Dubai and Murban concluded this week’s trade with solid gains on Friday.
The spread between Brent- and Dubai-linked crude continued to narrow, partially due to tepid demand in the West of Suez market.
Saudi Aramco has told at least four customers in North Asia they will receive full contract volumes of crude oil in April, several sources with knowledge of the matter said on Friday.
OSP
Kuwait raised the official selling price (OSP) for Kuwait Export Crude (KEC) to Asia in April by 75 cents from the previous month to $2.15 a barrel above the average of Oman/Dubai quotes, a price document reviewed by Reuters showed on Friday.
Qatar sets April OSP for Marine crude at $1.00 a barrel over the average of Oman/Dubai quotes, up from $0.40 a barrel in March. April Land crude OSP was hiked to $1.35 a barrel over the average of Oman/Dubai quotes, compared to $1.10 in the prior month.
SINGAPORE CASH DEALS
Cash Dubai’s premium to swaps rose 21 cents to $2.07 a barrel.
NEWS
Russia’s diesel and gasoil shipments to Turkey hit a record high in February as traders rerouted cargoes after a European Union ban on Russian oil products, according to traders and Refinitiv data.
The United States has privately urged some commodity traders to shed concerns over shipping price-capped Russian oil in a bid to keep supplies stable, the Financial Times reported on Thursday.
Oil flows on TC Energy’s TRP Keystone pipeline will not change after the U.S. pipeline regulator said it would require the company to reduce pressure following a 13,000-barrel oil spill in Kansas in December, Chief Executive François Poirier told Reuters on Thursday.
Source: Reuters