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Middle East Crude-Dubai and Murban jump, Oman slides

Thursday, 31 October 2024 | 01:00

Middle East crude benchmark premiums for Dubai and Murban rose on Wednesday, while that for Oman declined for a third consecutive session.

SINGAPORE CASH DEALS

Cash Dubai’s premium to swaps rose 78 cents to $1.65 a barrel.

Chevron will declare a December-loading Upper Zakum crude cargo to Mitsui following the deals.

For this month, Total bought 15 cargoes, or 7.5 million barrels. The other buyer — Mitsui — bought seven cargoes.

Oil giant Saudi Aramco 2223.SE wants to invest in the oil refinery sector and petroleum distribution in Vietnam, the Southeast Asian country’s government said in a statement issued late on Tuesday.

PetroChina International, the trading arm of the Chinese oil major 601857.SS, has appointed former senior crude oil trading executive Sun Jinhua as head of its Singapore operations, several trade sources said this week.

Kazakhstan will cut its oil output target for this year from the current 90.3 million metric tons due to some maintenance breaks at local oilfields taking longer than expected, Energy Minister Almasadam Satkaliyev said on Wednesday.

Swiss-based energy trader Litasco is hiring experienced traders and has lined up credit lines to revive its business in the Americas that withered after Russia invaded Ukraine in 2022, three sources close to the company said.
Source: Reuters (Reporting by Siyi Liu in Singapore; Editing by Shilpi Majumdar)

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