Middle East Crude-Benchmarks slip for third session

Shell

07/10/2026 10:46

SINGAPORE, Oct 7 (Reuters) - Middle East crude benchmarks Oman and Dubai fell for a third straight session on Wednesday with premiums slipping under $10 a barrel as Gulf supplies were still shipped out despite rising attacks on tankers in the Strait of Hormuz.

SINGAPORE CASH DEALS
Cash Dubai's premium to swaps fell 61 cents to $9.84 a barrel.
Trafigura will receive a December-loading Murban crude cargo from Unipec and an Oman crude cargo from Mercuria.
SELLER-BUYER
PRICE ($/BBL)
BP-TRAFIGURA*
105.90
BP-TRAFIGURA*
105.90
BP-TRAFIGURA*
105.90
BP-TRAFIGURA*
105.90
MERCURIA-TRAFIGURA*
105.90
BP-TRAFIGURA*
105.90
BP-TRAFIGURA*
105.90
MERCURIA-TRAFIGURA*
105.90
MERCURIA-TRAFIGURA*
105.90
MERCURIA-TRAFIGURA*
105.90
BP-TRAFIGURA*
105.90
GLENCORE-TRAFIGURA*
105.90
BP-TRAFIGURA*
105.90
UNIPEC-TRAFIGURA*
105.90
BP-TRAFIGURA*
105.90
BP-TRAFIGURA*
105.90
GLENCORE*-TRAFIGURA
105.90
MERCURIA-TRAFIGURA*
105.85
MERCURIA-TRAFIGURA*
105.85
MERCURIA*-TRAFIGURA
105.86
MERCURIA*-TRAFIGURA
105.86
MERCURIA*-TRAFIGURA
105.86
MERCURIA*-TRAFIGURA
105.86
MERCURIA*-TRAFIGURA
105.86
UNIPEC*-TRAFIGURA
105.80
MERCURIA*-TRAFIGURA
105.86
GLENCORE*-TRAFIGURA
105.90
UNIPEC*-TRAFIGURA
105.80
MERCURIA*-TRAFIGURA
105.86
UNIPEC*-TRAFIGURA
105.80
MERCURIA*-TRAFIGURA
105.86
UNIPEC*-TRAFIGURA
105.80
UNIPEC*-TRAFIGURA
105.80
UNIPEC*-TRAFIGURA
105.80
UNIPEC*-TRAFIGURA
105.80
UNIPEC*-TRAFIGURA
105.80
UNIPEC*-TRAFIGURA
105.88
BP*-TRAFIGURA
105.90
UNIPEC*-TRAFIGURA
105.88
UNIPEC*-TRAFIGURA
105.88
UNIPEC*-TRAFIGURA
105.88
UNIPEC*-TRAFIGURA
105.88
UNIPEC*-TRAFIGURA
105.88
CHEVRON*-TRAFIGURA
105.90
UNIPEC*-TRAFIGURA
105.88
MERCURIA*-EXXONMOBIL
105.90
UNIPEC*-TRAFIGURA
105.88
UNIPEC*-TRAFIGURA
105.88
BP*-EXXONMOBIL
105.90
UNIPEC*-TRAFIGURA
105.88
MERCURIA*-EXXONMOBIL
105.90
UNIPEC*-TRAFIGURA
105.88
UNIPEC*-TRAFIGURA
105.88
MERCURIA*-EXXONMOBIL
105.90
UNIPEC*-TRAFIGURA
105.88
MERCURIA*-EXXONMOBIL
105.90
UNIPEC*-TRAFIGURA
105.88
MERCURIA-EXXONMOBIL*
105.90
UNIPEC*-TRAFIGURA
105.88
MERCURIA*-EXXONMOBIL
105.90
UNIPEC*-TRAFIGURA
105.90
BP*-TRAFIGURA
105.95
UNIPEC-EXXONMOBIL*
105.90
UNIPEC*-TRAFIGURA
105.92
MERCURIA*-TRAFIGURA
105.95
UNIPEC*-TRAFIGURA
105.92
UNIPEC*-TRAFIGURA
105.92
UNIPEC-EXXONMOBIL*
105.93
UNIPEC-EXXONMOBIL*
105.93
MERCURIA*-TRAFIGURA
105.95
UNIPEC*-TRAFIGURA
105.93
BP*-TRAFIGURA
105.99
MERCURIA*-PETROCHINA
105.95

PRICES ($/BBL)

CURRENT
PREV SESSION
GME OMAN
105.98
105.40
GME OMAN DIFF TO DUBAI
9.83
10.15
CASH DUBAI
105.99
105.70

TENDERS
Indian Oil Corp, the country's largest refiner by capacity, has bought 3 million barrels of Middle Eastern and west African crude for November delivery to various Indian ports via a tender, multiple traders who participate in the market said.
The purchases include sold 1 million barrels of Abu Dhabi Murban crude for delivery to Vadinar at $13-$14 a barrel above dated Brent sold by Trafigura. Mercuria sold 1 million barrels of Iraqi Basrah Medium crude for delivery to Chennai at about parity to dated Brent while Chevron sold 1 million barrels of Angolan Nemba crude at $18 a barrel above dated Brent.

REFINERY
Venezuela halted the Cardon refinery, its second-largest with a capacity of 310,000 barrels per day, after a fire sparked by a ruptured natural gas line, state-run oil company PDVSA said late on Tuesday while it evaluates the situation.  
Shell SHEL.L expects third-quarter refining margins to jump to $42 a barrel, a record high and sharply above $24 a barrel in the previous quarter, the oil major said on Wednesday.

NEWS
Chinese independent refiners have stepped up purchases of crude from Iraq and Qatar for October and November delivery to replace dwindling Iranian supplies, as exports from other Gulf producers through the Strait of Hormuz recover, traders said.
Saudi Energy Minister Prince Abdulaziz bin Salman said on Tuesday that oil pumped through the East-West Pipeline, which runs to the kingdom's Red Sea export hub of Yanbu, reached 5.8 million barrels as of Tuesday morning.
The governing board of the International Energy Agency will hold an informal meeting at 1300 local time (1100 GMT) on Wednesday to discuss a proposed release of oil and diesel stocks, two European Union diplomats said.
The US Energy Information Administration raised its oil price forecast for this year and next year on Tuesday, as global stockpiles fall rapidly and diesel markets remain tight due to the ongoing Iran war.
The amount of oil in storage that is accessible to the global market is running low, industry executives said at a forum in London this week, making the market more fragile and putting upward pressure on prices.
The disruption caused by the Iran war is forcing the energy industry to rethink its just-in-time approach to efficient supply chains and to consider investing in alternative routes which bypass the Gulf and the Red Sea.

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 Jochelle Mendonca)
 ((Florence.Tan@thomsonreuters.com;))
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