Middle East crude benchmark spot premiums of Oman，Dubai and Murban all declined on Tuesday as U.S. crude prices fell by nearly 2% with U.S. tariffs on China taking effect.
China on Tuesday launched retaliatory tariffs on imports of U.S. crude oil, liquefied natural gas (LNG) and coal, although its purchases from the United States are relatively modest.
Meanwhile, trading activities in the Middle East market remained light.
SINGAPORE CASH DEALS
Cash Dubai’s premium to swaps fell 40 cents to $3.52 a barrel.
NEWS
OPEC+ agreed to stick to its policy of gradually raising oil output from April on Monday and removed the U.S. government’s Energy Information Administration from the sources used to monitor its production and adherence to supply pacts.
Equinor’s EQNR Johan Sverdrup oilfield in the North Sea has suffered a power outage that is estimated to last for some 8 hours, a regulatory statement posted on the Nord Pool web site showed on Tuesday.
Tullow Oil TLW said on Tuesday that it has appointed its finance chief Richard Miller as interim chief executive officer, effective Feb. 14.
The U.S. Interior Department on Monday unveiled a suite of orders aimed at carrying out President Donald Trump’s agenda to maximize domestic energy and minerals production and slash red tape.
Source: Reuters