Middle East crude benchmarks Oman, Murban and Dubai edged down on Thursday, after Saudi Arabia lowered its July prices for Asian buyers following OPEC+’s output hike for a fourth month, although the price cut was smaller than expected.

Saudi Arabia’s state firm Aramco 2223 cut the official selling price for the flagship Arab light crude it sells to Asia for July to $1.20 a barrel above the Oman/Dubai average, 20 cents lower than June and the lowest since May.

SINGAPORE CASH DEALS

Cash Dubai’s premium to swaps fell 3 cents to $0.79 a barrel.

NEWS

Iraq’s oil ministry said on Thursday it holds the Kurdish regional government (KRG) legally responsible for the continued smuggling of oil from the Kurdish region outside the country.

A surge in clean energy spending is expected to drive a record $3.3 trillion (2.89 trillion euros) in global energy investment in 2025, despite economic uncertainty and geopolitical tensions, the International Energy Agency (IEA) said on Thursday.

Global commodity trading house Trafigura reported on Thursday that its net profit rose slightly on the year to about $1.52 billion in the first half of its 2025 financial year, while its revenues fell on lower average commodity prices.
Source: Reuters