Middle East crude benchmark spot premiums for Oman, Dubai and Murban ticked up on Thursday, tracking gains in oil prices.

Oil prices climbed on Thursday as geopolitical concerns over escalating tensions between Russia and Ukraine outweighed the impact of a bigger-than-expected increase in U.S. crude inventories.

Both Brent LCOc1 crude futures and U.S. West Texas Intermediate crude futures CLc1 have risen more than 3% so far this week.

SINGAPORE CASH DEALS

Cash Dubai’s premium to swaps rose 2 cents to $0.68 a barrel.

REFINERY

Sinochem Group may keep three bankrupt oil refineries located in eastern China after auctions to sell them drew little interest from other companies, sources familiar with the matter said.

NEWS

U.S. crude oil and gasoline inventories last week rose more than forecast, while distillate stockpiles posted a larger-than-expected draw, the Energy Information Administration said on Wednesday.

Peru’s indebted state-run oil firm PetroPeru PETROBC1.LM could consider offering a minority stake to private investors in the second half of 2025, when the company hopes to emerge from a crisis and post profits, Chairman Alejandro Narvaez told Reuters on Wednesday.

Koch Industries is cutting or facing departures of employees across its trading division, several sources familiar with the matter said on Wednesday.
Source: Reuters (Reporting by Siyi Liu in Singapore; Editing by Varun H K)