Middle East crude benchmarks Oman, Dubai and Murban rose on Friday to the highest end-week levels this month.

SINGAPORE CASH DEALS

Cash Dubai’s premium to swaps rose 5 cents to $1.51 a barrel.

The U.S. on Thursday issued new Iran-related sanctions, targeting entities including for the first time a Chinese “teapot,” or independent refinery, and vessels that supplied crude oil to such processing plants.

U.S. Interior Secretary Doug Burgum on Thursday announced steps to open up more acreage for oil and gas leasing as well as lift restrictions on building an LNG pipeline and mining road in Alaska, carrying out President Donald Trump’s executive order to remove barriers to energy development in the state.

Germany has confiscated a decrepit tanker found adrift off its northern coast in January that is believed to be part of a shadow fleet used by Russia to circumvent oil sanctions, the Spiegel news magazine reported on Friday, citing security sources.

Kazakhstan’s oil output has reached a record high this month on the back of oilfield expansion, further exceeding OPEC+ production quotas, two industry sources said and Reuters calculations showed on Friday.
Source: Reuters