The Dubai and Murban crude benchmark premiums rose, while the Oman benchmark premium fell on Thursday.

Spot premiums for the three benchmark grades widened significantly, trading in the range of 56-97 U.S. cents on Wednesday, compared with 66-69 cents on Tuesday.

SINGAPORE CASH DEALS

Cash Dubai’s premium to swaps rose 28 cents to 95 cents per barrel.

U.S. crude oil stockpiles fell more than expected last week, while gasoline and distillate inventories rose as refining activity picked up and demand dropped.

Russian forces were battling Ukrainian troops for a third day on Thursday after they smashed through the Russian border in the Kursk region, an audacious attack on the world’s biggest nuclear power that has forced Moscow to call in reserves.

A group of Western insurers have provided cover for tankers carrying Russian crude, keeping its oil flowing after many in the trade sector withdrew for fear of breaching the rules of a G7 price cap.
Source: Reuters (Reporting by Sudarshan Varadhan; Editing by Vijay Kishore)