Oman’s Middle East crude benchmark spot premium climbed on Thursday, up for an eight consecutive session, while that of Dubai and Murban moved little.
Thailand’s PTT bought 2.5 million barrels of June-loading crude in a tender this week. The tender was awarded to Vitol, Gunvor, Shell and Unipec, trade sources said on Thursday.
SINGAPORE CASH DEALS
Cash Dubai’s premium to swaps rose 2 cents to $1.73 a barrel.
PetroChina will deliver a June-loading Murban crude cargo to Vitol following the deals.
NEWS
Oil prices recovered some losses on Thursday after falling nearly 2% in the previous session, with investors weighing a potential OPEC+ output increase against conflicting tariff signals from the White House and ongoing U.S.-Iran nuclear talks.
The Trump administration on Wednesday said it would implement an emergency permitting process for energy and mining projects on federal lands, slashing approval times that typically take months or years to at most 28 days.
Three more Russian insurers, including a subsidiary of top lender Sberbank, have asked India for approval to provide marine insurance for oil shipments sent to Indian ports, two sources with knowledge of the matter said, as Moscow looks to maintain deliveries despite Western sanctions.
Investors are expecting top U.S. refiners to report quarterly losses, even as their margins improve, as they brace for the ripple effect from U.S. President Donald Trump’s sweeping tariffs, energy analysts said.
Source: Reuters