Middle East Crude-Benchmarks fall as buying interest cools

Middle East crude benchmarks Oman and Dubai fell on Monday

  

SINGAPORE- Middle East crude benchmarks Oman and Dubai fell on Monday, tracking global oil futures, as buying interest cooled, with many Asian refiners having completed their spot purchases.

Pertamina has issued another spot tender seeking condensate for delivery over the first half of December. The tender will close on Tuesday with bids valid till Thursday.

One cargo of Russian ESPO crude loading over mid-December was sold at a premium of $1.65-$1.70 to Dubai quotes, slightly lower than the level seen in a Surgut tender earlier this month, a trader said.

REFINERY

Crude oil processed by Indian refiners hit the highest in six months in September, in another sign that demand for fuel is recovering from the blow to economic activity and transportation from coronavirus restrictions. urn:newsml:reuters.com:*:nL4N2HH0G7

NEWS

China's crude oil imports from the United States rose to a record high in September, while Brazil jumped to become the country's third-biggest supplier, data showed. 

Libya's National Oil Corp (NOC) said on Monday it had lifted force majeure on the El-Feel oilfield and that by doing so it had ended all the closures of oilfields and ports that resulted from an eight-month blockade by eastern forces. 

Higher taxes imposed on Russia's energy sector could make prolonged output curbs by OPEC and allied producers easier to stomach for Moscow's energy majors.

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

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