SINGAPORE, Feb 19 (Reuters) - Middle East crude benchmark Dubai climbed for a fifth session on Thursday, supported by firm demand from TotalEnergies and Mercuria.
Both companies snapped up a total of 106 Dubai partials on Thursday, which led to the delivery of three cargoes to the French major and one for the European trading house.
Singapore oil markets were closed on Tuesday and Wednesday for the Lunar New Year holidays.
India's MRPL issued a tender seeking up to 2 million barrels of crude. The tender will close on February 18. In its previous tender, the refiner bought Kissange and Mostarda crude from ExxonMobil, a trader said.
SINGAPORE CASH DEALS
Cash Dubai's premium to swaps was at $1.09 a barrel, 5 cents higher than Monday's close.
Shell will deliver an April-loading Upper Zakum crude cargo each to Mercuria and TotalEnergies, while the French major will also receive an Oman cargo from Vitol following the deals. Phillips66 will deliver an April-loading Dubai cargo to TotalEnergies.
PRICES ($/BBL)
CURRENT | PREV SESSION (Monday) | |
GME OMAN | 70.12 | 66.66 |
GME OMAN DIFF TO DUBAI | 1.06 | NA |
CASH DUBAI | 70.15 | 67.05 |
NEWS
Russian crude shipments in January made up the smallest portion of India's oil imports since late 2022, according to data from industry sources, while Middle Eastern supplies rose to their highest share over the same period.
China's Russian oil imports are set to climb for a third straight month to a new record high in February as independent refiners snapped up deeply discounted cargoes after India slashed purchases, according to traders and ship-tracking data.
U.S. refiners Phillips 66 and Citgo Petroleum are seeking to buy heavy crude directly from Venezuelan state oil company PDVSA starting in April to maximize profits, rather than purchasing through trading houses and U.S. oil major Chevron CVX.N, according to sources familiar with the efforts.
Global oil firms and traders including Vitol, Trafigura and TotalEnergies have won tenders to supply Libya with gasoline and diesel as the country grants large Western players wider access and reduces imports of Russian fuel, three trading sources told Reuters.
For crude prices, oil product cracks and refining margins, please click on the RICs below.
Brent | BRENTSGMc1 |
Dubai | DUBSGSWMc2 |
GME Oman | OQc1 |
Brent/Dubai EFS | DUB-EFS-1M |
PRODUCT CRACKS | |
Fuel oil crack | FO180SGCKMc1 |
Gasoil crack | GO10SGCKMc1 |
Naphtha crack | NAF-SIN-CRK |
Gasoline crack | GL92-SIN-CRK |
Complex refining margins | REF/MARGIN1 |
(Reporting by Florence Tan; Editing by Shailesh Kuber)
((Florence.Tan@thomsonreuters.com;))
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