Middle East crude benchmark premiums rose slightly on Thursday, with Dubai benchmarks recovering from a decline on Wednesday.

Spot premiums for the three benchmark grades were in the narrower range of $1.59-$1.73 on Thursday, compared with $1.51-$1.67 on Wednesday.

SINGAPORE CASH DEALS

Cash Dubai’s premium to swaps rose 6 cents to $1.73 per barrel.

China has asked its state oil companies to add 8 million metric tons, or nearly 60 million barrels, of crude oil to the country’s emergency stockpiles to boost supply security.

Russian gasoline exports by rail jumped by more than 70% in June from May to 423,101 metric tons after a ban on exports was waived.

U.S. crude shipments bound for Europe fell to a two-year low in June as European buyers bought cheaper regional and West African oil.
Source: Reuters (Reporting by Sudarshan Varadhan; Editing by Jan Harvey)