Middle East Crude-Dubai extends gains for third session

Middle East crude benchmarks Dubai extended gains for a third straight session on Tuesday

  

SINGAPORE- Middle East crude benchmarks Dubai extended gains for a third straight session on Tuesday following strong buying interest from major trading companies and BP.

Vitol will deliver a November-loading Upper Zakum crude cargo to Trafigura following trades on Platts window. This is Vitol's third such delivery this month.

Separately, Thailand's PTT has bought on behalf of IRPC a cargo Qatar Land crude at a small discount to its official selling price (OSP) and a Das crude cargo at about $2 a barrel to Dubai quotes.

Spot premiums for light sour grades such as Murban have risen to about $2.60 a barrel to Dubai quotes this week.

Last week, Unipec bought 1 million barrels of Oman crude at $1.70 to $1.80 a barrel above Dubai quotes for November loading while Fuji Oil privately purchased a cargo each of Oman and Das crude, traders said.

NEWS

India's crude oil imports rose to a four-month high in August, recovering from the near one-year low in July, with refiners buying incremental barrels mainly from Latin America and the United States, tanker data from trade sources showed. 

Royal Dutch Shell said on Monday it would sell its Permian Basin assets to ConocoPhillips for $9.5 billion in cash, an exit from the largest U.S. oilfield for the energy major shifting its focus to the clean energy transition. 

Shell, the largest U.S. Gulf of Mexico oil producer, said damage to offshore transfer facilities from Hurricane Ida will cut production into early next year, slashing deliveries of a type of crude oil prized by refiners. 

Shell plans to start producing low-carbon jet fuel at scale by 2025, in an attempt 

A global drive towards electrification of road transport to reduce carbon emissions may cut demand for the world's oil refining capacity by half in 2050, consultancy Rystad Energy says. 

(Reporting by Florence Tan) ((Florence.Tan@thomsonreuters.com; Reuters Messaging: florence.tan.thomsonreuters.com@reuters.net))

((RECENT CRUDE OIL TRADES: Asia ACRU/T Europe CRU/T Americas CRU/TU

CRUDE OIL MARKET NEWS Crude oil tenders in Asia CRU/TENDA Crude oil supply outages in Asia CRU/OUT-ASIA-O Refinery outages in Asia REF/OUT-ASIA-O Global arbitrage news and flows O/CRUDEARB W.African crude imports to Asia, monthly O/WAFRICA1 REFINERY MAINTENANCE DIARIES Asia REF/A Middle East REF/ME Europe REF/E

NATIONAL CRUDE IMPORT DATA Japan METI/JP1 China O/CHINA1 India O/INDIA2 S.Korea O/KOREA1 Indonesia O/INDO1-CRU

CRUDE OIL INVENTORY DATA Japan O/JAPAN1 US EIA/S Europe O/EUROIL1

CRUDE OIL PRODUCTION/OILFIELD NEWS OPEC output survey OPEC/O New Africa fields AFR/NEW New projects ENERGY/NEW New Americas fields AM/NEW CRUDE OIL MARKET REPORTS Middle East CRU/M Asia-Pacific CRU/AP West Africa CRU/WAF North Sea CRU/E Asia outlook ASIA/CRU Europe outlook EUR/CRU Global futures report O/R Technicals report O/I

PRICES For all Official Selling Prices OSP/O For a POLL on oil prices O/POLL NYMEX and ICE oil futures OILOIL TOCOM crude oil futures 0#JCO: Dubai, Oman swaps and spread ASIA/SWAP/CRUDE Middle East physical crude diffs CRUDE/ASIA2 Australia physical crude, Tapis swaps CRUDE/ASIA1 Asia-Pacific physical crude CRUDE/ASIA3 All Asian crude oil differentials 0#C-DIF-A All Asian crude oil outright prices 0#C-A ))


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