Middle East Crude-Oman, Dubai edge higher; Murban slips

Marathon Oil

08/11/2024 03:23

SINGAPORE, Nov 8 (Reuters) - Middle East crude
benchmarks premiums for Oman and Dubai rose marginally on
Thursday, while that for Murban slipped. 
    Oil prices ticked up on Thursday following a sell-off
triggered by the U.S. presidential election, as risks to oil
supply from a Donald Trump presidency and a hurricane building
in the Gulf Coast outweighed a stronger dollar and lower crude
imports in top importer China.
    
    SINGAPORE CASH DEALS
    Cash Dubai's premium to swaps rose 1 cent to $0.71 a barrel.
    Unipec will deliver a January Upper Zakum crude cargo to
PetroChina following the deals.
    
 SELLER-BUYER             PRICE
                          ($/BBL)
 UNIPEC-EQUINOR              74.01
 TRAFIGURA-EQUINOR           74.04
 UNIPEC-EQUINOR              74.01
 UNIPEC-EQUINOR              74.01
 TRAFIGURA-PETROCHINA        74.01
 UNIPEC-PETROCHINA           74.01
 TRAFIGURA-PETROCHINA        74.01
 UNIPEC-PETROCHINA           74.01
 TRAFIGURA-PETROCHINA        74.01
 UNIPEC-EQUINOR              74.01
 TRAFIGURA-PETROCHINA        74.01
 UNIPEC-PETROCHINA           74.01
 SHENGHONG-EQUINOR           74.00
 UNIPEC-EQUINOR              74.01
 PTT-PETROCHINA              74.01
 EXXONMOBIL-PETROCHINA       74.01
 PHILLIPS 66-PETROCHINA      74.00
 RELIANCE-TOTAL              74.00
 UNIPEC-PETROCHINA           74.01
 PTT-EQUINOR                 74.01
 SHENGHONG-EQUINOR           74.00
 EXXONMOBIL-PETROCHINA       74.01
 RELIANCE-PETROCHINA         74.00
 UNIPEC-PETROCHINA           74.01
 MITSUI-TOTAL                74.00
 EXXONMOBIL-PETROCHINA       74.01
 SHENGHONG-EQUINOR           74.00
 PHILLIPS 66-PETROCHINA      74.00
 PTT-PETROCHINA              74.01
 UNIPEC-PETROCHINA           74.01
 VITOL-PETROCHINA            74.01
 EXXONMOBIL-PETROCHINA       74.01
 UNIPEC-PETROCHINA           74.01
 PTT-PETROCHINA              74.01
 MITSUI-PETROCHINA           74.01
 EXXONMOBIL-PETROCHINA       74.01
 VITOL-PETROCHINA            74.01
 TRAFIGURA-PETROCHINA        74.01
 UNIPEC-PETROCHINA           74.01
 PHILLIPS 66-TOTAL           74.00
 RELIANCE-PETROCHINA         74.01
 EXXONMOBIL-PETROCHINA       74.01
 UNIPEC-PETROCHINA           74.01
 EXXONMOBIL-EQUINOR          74.00
 TRAFIGURA-PETROCHINA        74.01
 RELIANCE-PETROCHINA         74.01
 MITSUI-PETROCHINA           74.01
 PHILLIPS 66-TOTAL           74.00
 VITOL-PETROCHINA            74.01
 UNIPEC-PETROCHINA           74.01
 EXXONMOBIL-EQUINOR          74.00
 EXXONMOBIL-PETROCHINA       74.01
 RELIANCE-PETROCHINA         74.01
    
    PRICES ($/BBL)
                         CURRENT  PREV SESSION
 GME OMAN                73.98    73.26
 GME OMAN DIFF TO DUBAI  0.68     0.66
 CASH DUBAI              74.01    73.30
 
    NEWS
    China's crude oil imports fell 9% in October, data showed on
Thursday, a sixth consecutive monthly year-on-year decline, as a
plant closure at a state oil refinery adds to weaker demand from
independent refiners.
    Global oil prices are expected to stay in the $70 to $80 per
barrel range in 2025, similar to 2024, while geopolitical risks
create uncertainty around supply, Russell Hardy, CEO of Vitol,
the world's largest independent oil trader, said on Thursday.
    China will continue to have an important role in global oil
demand because of its focus on petrochemicals even as fuel
consumption in its road transportation sector peaks amid energy
transition, Vitol's global head of research said on Thursday.
    U.S. shale producer Marathon Oil  MRO.N  beat Wall Street
estimates for third-quarter profit on Wednesday, helped by
higher production and resilient demand for oil.
    
    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 and Florence Tan in Singapore; Editing
by Rashmi Aich)
 ((siyi.liu@thomsonreuters.com;))
 
((RECENT CRUDE OIL TRADES:
Asia  ACRU/T   Europe  CRU/T  Americas  CRU/TU 
      
CRUDE OIL MARKET NEWS      
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Refinery outages in Asia                         REF/OUT-ASIA-O       
Global arbitrage news and flows                  O/CRUDEARB       
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Indonesia  O/INDO1-CRU          
                       
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