Middle East Crude-Benchmarks slip; Qatar offers Dec-loading cargoes

Canada Energy Partners

14/10/2024 11:18

SINGAPORE, Oct 14 (Reuters) - Middle East crude
benchmarks Oman, Dubai and Murban slipped on Monday as concerns
around an escalation of conflict between Israel and Iran eased.
    Spot premiums for Oman and Dubai fell toward $1.70 a barrel
while IFAD Murban's premium to Dubai quotes dropped under $1.80.
    QatarEnergy will close on Tuesday three crude tenders for
December-loading supplies. It offered three al-Shaheen crude
cargoes to load on Dec. 1-2, 26-27 and 27-28, in addition to
Qatar Marine and Qatar Land crude.
    Bids will remain valid until Wednesday.

    SINGAPORE CASH DEALS
    Cash Dubai's premium to swaps fell 17 cents to $1.71 a
barrel.
    Mitsui will receive a December-loading Upper Zakum crude
cargo each from ExxonMobil and Trafigura following the deals.
 SELLER-BUYER          PRICE ($/BBL)
 REPSOL-TOTAL                    77.68
 TRAFIGURA-TOTAL                 77.65
 PHILLIPS 66-MITSUI              77.65
 TRAFIGURA-TOTAL                 77.65
 EXXONMOBIL-MITSUI               77.65
 HENGLI-TOTAL                    77.66
 EXXONMOBIL-TOTAL                77.65
 REPSOL-TOTAL                    77.66
 PTT-TOTAL                       77.65
 HENGLI-TOTAL                    77.66
 EXXONMOBIL-MITSUI               77.65
 PHILLIPS 66-VITOL               77.60
 PTT-TOTAL                       77.65
 EXXONMOBIL-TOTAL                77.65
 TRAFIGURA-TOTAL                 77.65
 PTT-MITSUI                      77.65
 EXXONMOBIL-TOTAL                77.65
 TRAFIGURA-TOTAL                 77.66
 PTT-TOTAL                       77.65
 EXXONMOBIL-TOTAL                77.65
 HENGLI-TOTAL                    77.65
 EXXONMOBIL-MITSUI               77.65
 PTT-TOTAL                       77.65
 EXXONMOBIL-TOTAL                77.65
 HENGLI-TOTAL                    77.65
 EXXONMOBIL-TOTAL                77.65
 TRAFIGURA-MITSUI                77.65
 REPSOL-TOTAL                    77.65
 EXXONMOBIL-TOTAL                77.65
 TRAFIGURA-TOTAL                 77.65
 PTT-TOTAL                       77.65
 EXXONMOBIL-MITSUI               77.65
 RELIANCE-TOTAL                  77.65
 EXXONMOBIL-TOTAL                77.65
 RELIANCE-TOTAL                  77.65
    
    PRICES ($/BBL)
                         CURRENT  PREV SESSION
 GME OMAN                77.66    78.50
 GME OMAN DIFF TO DUBAI  1.72     1.79
 CASH DUBAI              77.65    78.59
    
    NEWS
    Iraq produced 3.94 million barrels per day (bpd) of oil in
September, less than its OPEC+ output quota of about 4 million
bpd, an Iraqi official said on Saturday, as the country seeks to
boost its compliance with the target.
    PetroChina Canada will no longer be a committed shipper on
the Trans Mountain oil pipeline after assigning its contracts to
another party, the company said in a letter filed with the
Canada Energy Regulator, dated Oct. 10.
    The United States expanded sanctions against Iran's
petroleum and petrochemical sectors on Friday in response to an
Iranian missile attack on Israel, the administration of
President Joe Biden said.
    Azerbaijan's oil output fell by 4.8% to 21.6 million tonnes
in the first nine months of 2024, from 22.7 million tonnes a
year earlier, Energy Minister Parviz Shahbazov said on Monday.
    Weak refining margins due to a slowdown in global demand for
fuel and lower oil trading results will dent BP's  BP.L 
third-quarter profit by up to $600 million, the British oil
major said on Friday.
    
    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 and Siyi Liu, Editing by Louise
Heavens)
 ((Florence.Tan@thomsonreuters.com; Reuters Messaging:
florence.tan.thomsonreuters.com@reuters.net))
 
((RECENT CRUDE OIL TRADES:
Asia  ACRU/T   Europe  CRU/T  Americas  CRU/TU 
      
CRUDE OIL MARKET NEWS      
Crude oil tenders in Asia                        CRU/TENDA     
Crude oil supply outages in Asia                 CRU/OUT-ASIA-O       
Refinery outages in Asia                         REF/OUT-ASIA-O       
Global arbitrage news and flows                  O/CRUDEARB       
W.African crude imports to Asia,  monthly        O/WAFRICA1       
REFINERY MAINTENANCE DIARIES      
Asia  REF/A    Middle East  REF/ME    Europe  REF/E       
                       
NATIONAL CRUDE IMPORT DATA      
Japan      METI/JP1    China    O/CHINA1       
India      O/INDIA2    S.Korea  O/KOREA1       
Indonesia  O/INDO1-CRU          
                       
CRUDE OIL INVENTORY DATA      
Japan  O/JAPAN1   US  EIA/S   Europe  O/EUROIL1       
                    
CRUDE OIL PRODUCTION/OILFIELD NEWS      
OPEC output survey  OPEC/O           New Africa fields     AFR/NEW  
New projects        ENERGY/NEW       New Americas  fields  AM/NEW 
CRUDE OIL MARKET REPORTS      
Middle East              CRU/M     Asia-Pacific          CRU/AP       
West Africa              CRU/WAF   North Sea             CRU/E       
Asia outlook             ASIA/CRU  Europe outlook        EUR/CRU       
Global futures report    O/R       Technicals report     O/I       
                            
PRICES      
For all Official Selling  Prices        OSP/O       
For a POLL on oil  prices               O/POLL       
NYMEX and ICE oil  futures              OILOIL       
TOCOM crude oil  futures                0#JCO:       
Dubai, Oman swaps and  spread           ASIA/SWAP/CRUDE       
Middle East physical crude diffs        CRUDE/ASIA2       
Australia physical crude, Tapis swaps   CRUDE/ASIA1       
Asia-Pacific physical crude             CRUDE/ASIA3       
All Asian crude oil  differentials      0#C-DIF-A 
All Asian crude oil outright  prices    0#C-A ))