Middle East Crude-Benchmarks jump to one-week high after more attacks on Saudi

Formosa Petrochemical

22/10/2026 10:59

SINGAPORE, Oct 22 (Reuters) - Spot premiums for Middle East crude benchmarks Oman and Dubai jumped on Thursday to over one-week high after more Houthi attacks in Saudi Arabia stoked concerns over a broader escalation of conflict and further disruptions to supplies.
Brent prices rose to their highest since May on Thursday. O/R
The US State Department has ordered some diplomats and family members to leave its missions in Saudi Arabia and plans to withdraw family members from a number of other US missions in the Middle East, US officials told Reuters.
Yemen's Iran-aligned Houthis struck several targets in Saudi Arabia on Wednesday with at least one person killed and eight more wounded at a civilian airport in Dammam, and two people killed in a drone attack on a Saudi oil field.
Explosions were also heard in Sirik in southern Iran, Iranian media reported on Wednesday, saying the nature and origin of the explosions were unknown.

SPOT
Aramco Trading issued a tender to sell Khafji crude for loading in December to January, trade sources said on Thursday. 
Taiwan's Formosa Petrochemicals has bought 2 million barrels of Oman crude for January delivery via a tender closed on Wednesday, trade sources said. Formosa bought the cargo at a premium of $3-4 per barrel to Dubai quotes from Trafigura, they added.

SINGAPORE CASH DEALS
Cash Dubai's premium to swaps rose $2.67 to $8.25 a barrel.
BP will deliver a December-loading Oman crude cargo to Trafigura following the deals.

SELLER-BUYER
PRICE ($/BBL)
BP-TRAFIGURA*
115.30
UNIPEC-TRAFIGURA*
115.30
UNIPEC-TRAFIGURA*
115.30
MERCURIA-TRAFIGURA*
115.30
MERCURIA-TRAFIGURA*
115.30
UNIPEC-TRAFIGURA*
115.30
MITSUI*-BP
115.40
MITSUI*-TRAFIGURA
115.40
MERCURIA-TRAFIGURA*
115.40
MITSUI*-PHILLIPS 66
115.40
MERCURIA-TRAFIGURA*
115.40
MITSUI*-TRAFIGURA
115.40
UNIPEC-TRAFIGURA*
115.40
BP-TRAFIGURA*
115.40
MERCURIA-PHILLIPS
115.40
UNIPEC-TRAFIGURA*
115.40
MERCURIA-TRAFIGURA*
115.40
UNIPEC-TRAFIGURA*
115.40
UNIPEC-TRAFIGURA*
115.40

PRICES ($/BBL)

CURRENT
PREV SESSION
GME OMAN
114.75
110.60
GME OMAN DIFF TO DUBAI
7.60
5.29
CASH DUBAI
115.40
110.89

NEWS
The US has extended the deadline for companies to negotiate with Russian oil major Lukoil LKOH.MM about buying its foreign assets until November 21, according to the US Office of Foreign Assets Control.
Oil product inventories held in Asia's key fuel trading hub Singapore declined to a three-week low, government data showed on Thursday, driven by a fall in middle and light distillate stocks.
Saudi Arabia and its oil giant  are seeking to partner with other countries to expand their strategic stockpile as it sees oil demand increasing to 3 million barrels per day after the Iran war, CEO Amin Nasser told Al Arabiya Business TV on Thursday.

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 Siyi Liu in Singapore; Editing by Janane Venkatraman)
 ((siyi.liu@thomsonreuters.com;))
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/MAsia-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