Middle East crude benchmark spot premiums of Oman and Murban ticked up for a second session on Tuesday, while those of Dubai eased after rising to a seven-month high in the prior session.

Oil prices rose on Tuesday as concerns about supply disruptions grew amid an escalation of the conflict between Russia and Ukraine, and as the market weighed whether upcoming U.S. jobs data would lead to interest rate cuts.

SINGAPORE CASH DEALS

Cash Dubai’s premium to swaps fell 17 cents to $3.35 a barrel.

Syria exported 600,000 barrels of heavy crude oil on Monday from the port of Tartus as part of a deal with a trading firm, a Syrian energy official told Reuters, the first known official export of Syrian oil in 14 years.

Saudi Aramco and Iraq’s state oil company SOMO have stopped selling crude oil to India’s Nayara Energy in the aftermath of sanctions imposed in July by the European Union on the Russian-backed refiner, three sources familiar with the matter said.

Angola’s planned 30,000-barrel-per-day Cabinda oil refinery, the first to be built since independence a half-century ago, will begin producing fuel by year-end, the Southern African country’s oil and gas minister said on Monday.

Russian oil product exports from the Black Sea port of Tuapse are set to rise to 1.098 million metric tons in September, up 6.2% on a daily basis from 1.068 million metric tons scheduled for August, two traders said on Tuesday.
Source: Reuters