Middle East benchmarks Dubai and Oman slipped for a third consecutive session on Friday, while Murban premium inched higher in contrast.

All benchmarks averaged below $1 a barrel in June so far, comparing lower with May’s monthly average premiums, amid a backdrop of tepid crude demand in Asia.

Meanwhile, Taiwan’s state refiner CPC Corp issued its monthly tender to buy sweet crude for September delivery. The tender will close on June 24 with offers valid for two days.

SINGAPORE CASH DEALS

Cash Dubai’s premium to swaps dipped 2 cents from the previous session to 86 cents a barrel on Friday.

Unipec will be delivering an August-loading cargo of Oman crude to Vitol.

NEWS

– Mexico’s state energy company Pemex will start processing crude oil in its new Olmeca refinery in the port of Dos Bocas in the second half of the year, its Chief Executive Officer Octavio Romero said.

– Global commodities trader Trafigura loaded diesel onto a supertanker in the Middle East this week, taking advantage of lower freight rates for crude tankers to send more fuel to the West, according to shipping data and several trade sources.

– U.S. crude oil, gasoline and distillate inventories fell last week, the Energy Information Administration said on Thursday as crude exports rose.

– India’s crude oil imports in May rose by 5.7% year-on-year to 21.75 million metric tons, government data showed on Thursday. On a monthly basis, imports gained 2.1% from 21.31 million tons in April.

– Ukraine’s military said its drones struck four oil refineries, radar stations and other military objects in Russia in an attack in the early hours of Friday.
Source: Reuters (Reporting by Jeslyn Lerh and Florence Tan; Editing by Shailesh Kuber)