Murban, a Middle East crude benchmark, rose for a third consecutive session on Thursday, partly supported by a supply disruption of Azeri crude exports after a massive earthquake hit the port and oil pipelines.

Spot premium of the middle distillate-rich Murban gained 5 cents to $2.91 a barrel over the Dubai quotes.

SINGAPORE CASH DEALS

Cash Dubai’s premium to swaps inched up by 3 cents to $2.04 a barrel.

ASIAN REFINERIES

The Qingdao refinery, in the eastern province of Shandong, has a crude oil processing capacity of 12 million tonnes per year, or 240,000 barrels per day, according to Sinopec.

NEWS

increased output by almost 1% in the first week of February from January, despite Western embargoes on Russian fuel, Kommersant daily reported on Thursday, citing anonymous data.

slipped in January after hitting a nine-month peak in December, hit by lower mobility due to cold weather in parts of the country and a slowdown in industrial activity.
Source: Reuters