Middle East crude benchmarks Oman, Dubai and Murban jumped on Tuesday, gaining for a third straight session.
Cash Dubai was supported by strong bids from PetroChina, Totsa, and Shell that led to the delivery of another three August-loading cargoes on the window.
ASIA-PACIFIC CRUDE
Spot premiums for August-loading sweet crude in Asia rose, supported by a much narrower Brent premium to Dubai quotes.
PV Oil sold an August-loading Chim Sao cargo to Unipec at a premium of about $6.30 a barrel above dated Brent, traders said, versus a premium of about $4 in the previous month.
Petroleum Brunei has sold its August-loading Kimanis crude via a tender to Ampol at $1.60 a barrel above its official selling price (OSP), they added.
RUSSIAN CRUDE
Russian Urals crude cargo loading from Russian ports for delivery to China fell by almost 50% from June 1-19, compared to the same period of May, according to Refinitiv Eikon data and traders.
Urals loadings from Russian Baltic and Black Sea ports bound for China over June 1-19 averaged some 212,000 barrels per day (bpd), down from 414,000 bpd over the same period in May, including Urals shipments to China from STS facilities, Refinitiv Eikon data and Reuters calculations showed.
SINGAPORE CASH DEALS
Cash Dubai’s premium to swaps rose 66 cents to $1.63 a barrel.
Vitol will deliver Oman cargo to Shell. Unipec will deliver an Upper Zakum cargo each to PetroChina Hong Kong and Totsa.
Source: Hellenic Shipping News
