Middle East crude benchmark spot premiums of Oman and Dubai dipped on Tuesday, while that for Murban rose slightly.

India’s ONGC Videsh issued a tender to sell one million barrels of Nile blend crude for March. The tender will close on Wednesday.

SINGAPORE CASH DEALS

Cash Dubai’s premium to swaps fell 15 cents to $2.93 a barrel.

NEWS

A senior Russian official said on Tuesday that Ukrainian drones had attacked a pipeline in Russia which pumps about 1% of global crude supply, a strike that he said could disrupt flows to world markets and damage U.S. companies.

A consortium led by U.S. major Exxon Mobil XOM plans to produce up to 180,000 barrels per day (bpd) of oil and 95 million cubic feet per day (mmcfd) of gas at its seventh project in Guyana, Hammerhead, according to a document published by the country’s environmental agency on Monday.

OPEC+ producers are not considering delaying a series of monthly oil supply increases that is scheduled to begin in April, Russian Deputy Prime Minister Alexander Novak said on Monday, Russia’s RIA state news agency reported.
Source: Reuters