Middle East crude benchmarks eased for a third straight session as cargo deliveries continued to ramp up towards the end of the month.
Benchmarks Dubai and Oman extended declines, with five cargoes delivered on the Platts window on Monday.
Meanwhile, Brent crude’s premium to Dubai narrowed further after a sharp crunch at the end of last week.
August EFS was at 55 cents at the Asia close (0830 GMT), based on Refinitiv data.
SINGAPORE CASH DEALS
Cash Dubai’s premium to swaps eased 7 cents to $1.50 a barrel. Five cargoes of August-loading crude were delivered on Monday.
Vitol delivered one cargo of Upper Zakum to Totsa, while Unipec delivered one cargo of Upper Zakum to Shell. Separately, Unipec delivered three cargoes of Oman crude to Totsa.
Source: Hellenic Shipping News
