Middle East crude benchmark spot premiums of Oman and Dubai extended their gains on Wednesday, while that of Murban edged down.

Oil prices rose on Wednesday after Israel attacked Hamas leadership in Qatar, Poland shot down drones and the U.S. made a push for new sanctions on buyers of Russian oil, but concerns over crude oversupply capped further gains.

SINGAPORE CASH DEALS

Cash Dubai’s premium to swaps rose 9 cents to $3.33 a barrel.

Mercuria will deliver a November-loading Upper Zakum crude cargo to Vitol following the deals.

NEWS

U.S. crude oil and gasoline stockpiles were expected to have fallen last week, while distillate inventories edged up marginally, an extended Reuters poll showed on Tuesday.

In Norway, made rich by oil and gas, the idea of shutting fields sends chills, but that is exactly what the small Green Party is pushing as a global switch away from fossil fuels looms.

Saudi Aramco 2222, the world’s biggest oil company, has opened books for the sale of a five- and 10-year U.S. dollar Islamic bond, or sukuk,expected to price later on Wednesday, a term sheet seen by Reuters showed.
Source: Reuters