Middle East crude benchmark spot premiums moved little on Friday, posting weekly declines for a third consecutive week, while spot trading activities stayed light.

Oil prices rose on Friday and were poised to end three weeks of decline, buoyed by rising fuel demand and expectations that U.S. plans for global reciprocal tariffs would not come into effect until April, giving more time to avoid a trade war.

SINGAPORE CASH DEALS

Cash Dubai’s premium to swaps fell 4 cents to $3.15 a barrel.

NEWS

Russia’s oil exports could be sustained if it finds workarounds to the latest U.S. sanctions package, the International Energy Agency (IEA) said on Thursday, as it forecast that growth in global oil supply would outpace demand this year.

India and the U.S. agreed on Thursday to start talks to clinch an early trade deal and resolve their standoff over tariffs as New Delhi promised to buy more U.S. oil, gas and military equipment and fight illegal immigration.

Norwegian oil and gas investments this year will exceed the record levels of 2024, driven by a flurry of development projects, a national statistics office (SSB) industry survey showed on Thursday.
Source: Reuters