SINGAPORE- Middle East crude benchmarks Oman and Dubai eased on Tuesday after strong gains in the previous sessions despite a flurry of trade on Platts window.
Four crude cargoes were delivered on the window, bringing the total number delivered this month to seven.
ExxonMobil delivered an Upper Zakum crude cargo to Trafigura while Total also received the same grade from Reliance. Unipec delivered an al-Shaheen crude cargo to Trafigura and another to BP.
Separately, Dubai has set its official differential to Oman futures for January at a discount of $0.10 per barrel, the Dubai Department of Petroleum Affairs said on Tuesday.
ASIA-PACIFIC CRUDE
PV Oil has sold another three cargoes for December-loading via tenders at higher premiums against dated Brent. These include a Ruby crude cargo to Binh Son refinery at about $3 a barrel, a Bunga Orkid crude cargo to PTT and a Bunga Kekwa crude cargo to ExxonMobil, traders said. The latter two cargoes fetched premiums of about $3.50 a barrel, up from premiums of about $2 last month.
Separately, Taiwan's CPC has bought 2 million barrels of West Texas Intermediate Midland crude for January arrival at a slightly higher premium than last month, a trader said.
NEWS
Russia expects OPEC+ to raise its output by 400,000 barrels per day (bpd) at the Nov. 4 meeting, as previously agreed, Deputy Prime Minister Alexander Novak told Reuters on Monday.
China's top economic planner said on Tuesday it was studying a mechanism to stabilise coal prices over the long run, in its latest move to cool the red-hot market.
With oil and gas prices at multi-year highs, U.S. shale producers are poised to deliver the strongest earnings since the onset of the coronavirus pandemic, so long as they didn't lock in sales tied to much lower prices.
(Reporting by Florence Tan; Editing by Krishna Chandra Eluri) ((Florence.Tan@thomsonreuters.com; Reuters Messaging: florence.tan.thomsonreuters.com@reuters.net))
