Middle East crude benchmark spot premiums of Dubai and Murban rose on Thursday, while that of Oman declined.

Oil prices gained on Thursday after sliding in the previous two sessions, with supply worries resurfacing after U.S. President Donald Trump announced a reversal of a license given to Chevron CVX to operate in Venezuela.

Trump on Wednesday said he was reversing a license given to Chevron CVX to operate in Venezuela by his predecessor Joe Biden more than two years ago, accusing President Nicolas Maduro of not making progress on electoral reforms and migrant returns.

SINGAPORE CASH DEALS

Cash Dubai’s premium to swaps rose 19 cents to $3.37 a barrel.

NEWS

Italian energy group Eni ENI reported a 46% slide in fourth-quarter adjusted net profit on Thursday, hit by lower energy prices and weakness at its refining, biofuel and chemicals divisions.

The United States has suspended sanctions for 30 days on Serbian oil company NIS, which is majority-owned by Russian companies and runs the country’s only oil refinery, President Aleksandar Vucic said on Thursday, citing a U.S. Treasury document.

Singapore’s middle distillates inventories slipped for a second straight week as net exports rose, despite a rise in diesel/gasoil imports, official data showed on Thursday.

Iraqi Kurdistan and the federal government have managed to settle their oil disputes, which would allow Russian companies to restart their projects in the region, TASS news agency reported Russia’s Energy Minister Sergei Tsivilev as saying.
Source: Reuters