Middle East crude benchmarks Dubai and Murban rose on Tuesday from multi-week lows hit in the previous session, with some deals concluded ahead of the Christmas holiday.

Spot premiums have gained this month compared with November thanks to better demand from Asian buyers.

SINGAPORE CASH DEALS
Cash Dubai’s premium to swaps rose 48 cents to $1.17 a barrel.

BP Reliance, and ExxonMobil will each declare a February-loading Upper Zakum crude cargo to TotalEnergies following the deals.

Trafigura will deliver a February Oman crude cargo to TotalEnergies following the deals.

NEWS
India’s crude oil imports rose 2.6% year-on-year to 19.07 million metric tons in November, government data showed on Monday.

Equinor EQNR said on Monday it has bought an additional stake of 0.2% in Danish energy group Orsted ORSTED, raising its ownership to 10%, in line with the Norwegian group’s previously stated intention.

The Spanish government has issued a decree extending a temporary tax on energy companies into 2025, Prime Minister Pedro Sanchez said on Monday, after lawmakers voted last week to eliminate the levy.
Source: Reuters