Middle East Crude-Benchmarks dip; Iraq, Qatar cut June OSPs

Middle East crude benchmarks Oman and Dubai edged down on Monday

  

SINGAPORE- Middle East crude benchmarks Oman and Dubai edged down on Monday, while market participants awaited the term crude allocation results from Saudi Aramco and official selling prices (OSPs) from major producers.

Iraq's SOMO cut June OSPs for three Basra crude grades it sells to Asia. 

Qatar Petroleum (QP) also cut the June OSPs for its Marine and Land crude. 

ASIA PACIFIC CRUDE

PetroBrunei closed a spot tender selling two cargoes of Malaysia's Kimanis crude, loading July 2-6 and July 10-14.

Indonesia cut the official Indonesia Crude Price (ICP) for Minas crude oil to $62.67 a barrel for April. 

REFINERY

Eneos Corp, Japan's biggest oil refiner, said it plans to restart its 145,000 barrel per day (bpd) Sendai refinery in the second half of May after it was shut down automatically during an earthquake earlier this month. 

NEWS

The U.S. government and the top U.S. fuel pipeline operator on Monday worked to secure the network that transports nearly half of the East Coast's supplies as a shutdown to halt a ransomware cyberattack entered its fourth day.

Indian oil minister Dharmendra Pradhan on Friday thanked Saudi Arabia and other Middle Eastern oil producers for supplying liquid medical oxygen (LMO) to help the country in its battle with the COVID-19 crisis. 

Abu Dhabi National Oil Co (ADNOC) has invited investment banks to pitch for bookrunner roles for the initial public offering of its drilling unit, two sources told Reuters on Sunday. 

(Reporting By Shu Zhang; Editing by Amy Caren Daniel) ((shu.zhang@thomsonreuters.com; +65-6870-3549; Reuters Messaging: Twitter @shuzhang4))


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