Middle East crude benchmark premiums of Oman and Dubai rose slightly on Friday, as oil prices were on track for a weekly gain with supply jitters driven by newly added sanctions on Russia and Iran.

Qatar on Friday offered February-loading al-Shaheen crude oil and the tender will close on Monday, trade sources said.

SINGAPORE CASH DEALS

Cash Dubai’s premium to swaps rose 4 cents to $0.94 a barrel.

NEWS

The global diesel market will likely find price support in 2025 from the closure of about 1% of refining capacity, traders and analysts said, offsetting current weakness and structural downward pressure as the world shifts to cleaner fuels.

Three of Canada’s biggest oil producers, Suncor Energy SU.TO, Cenovus Energy CVE.TO and Imperial Oil IMO.TO, on Thursday projected higher production in 2025, betting on resilient demand for Canadian crude in U.S. and international markets.

U.S. oil and gas company Kosmos Energy KOS.N said on Thursday it was in early talks for an all-share acquisition of West Africa-focused Tullow Oil TLW.L.
Source: Reuters (Reporting by Siyi Liu in Singapore; Editing by Vijay Kishore)