Middle East crude benchmark premiums for Dubai and Oman stablised on Thursday, while the premium for Murban fell for a second session to a near two-month low.
Taiwanese refiner CPC bought 6 million barrels of West Texas Intermediate (WTI) crude for January arrival at $2.9-$3.10 a barrel above December dated Brent on a cost and freight basis. Shell, Aramco Trading and Sinochem sold 2 million barrels each.
SINGAPORE CASH DEALS
Cash Dubai’s premium to swaps was unchangedat $1.52 a barrel.
Chevron will deliver a December-loading Al Shaheen crude cargo to TotalEnergies following the deals.
REFINERY
Marathon Petroleum MPC.N began preparing on Wednesday to restart the hydrocracker and a reformer at its 631,000 barrel-per-day (bpd) Galveston Bay Refinery in Texas City, Texas, said people familiar with plant operations.
NEWS
Equinor EQNR.OL reported a sharper than expected 13% decline in third-quarter profit on Thursday, hit by weaker oil prices and lower production, and cut its full-year outlook for capital expenditure and renewable energy production growth.
U.S. crude oil inventories rose sharply last week as imports ticked higher, while gasoline stocks rose unexpectedly as refineries ramped up output after seasonal maintenance, Energy Information Administration (EIA) data showed on Wednesday.
Mexican state oil company Pemex aims to increase its hydrocarbon reserves and ensure their restitution during the government of newly elected President Claudia Sheinbaum, according to an internal Pemex document seen by Reuters on Wednesday.
Source: Reuters (Reporting by Siyi Liu and Florence Tan in Singapore;Editing by Mark Potter)