SINGAPORE- Middle East crude benchmarks held firm on Thursday, supported by robust demand from Shell.

Cash Dubai's premium to swaps rose 4 cents to $2.17 a barrel, while DME Oman's premium to Dubai swaps remained unchanged at $2.22.

Shell received another three cargoes - two Upper Zakum and one Murban - from Total, Unipec and Gunvor following trades on Platts window, traders said.

This brings the total number of Upper Zakum cargoes that Shell has purchased so far this month to 13, matching what the company bought in the previous month.

In addition, Shell is also receiving seven Murban and one Das cargoes from trades conducted on Platts and RIM platforms.

Iraq's SOMO has sold 1 million barrels of Basra Heavy crude at a premium of 90 cents a barrel above its official selling price (OSP), traders said, marking a fall to less than half the premium of its previous sale.

The buyer for the cargo loading on July 8-10 was not immediately known.

Afterwards, SOMO issued another tender to sell 2 million barrels of Basra Heavy crude for loading on July 29-31 which will close on June 24, traders said.

SOMO last sold Basra Heavy crude for June loading at a premium of $2.30 a barrel. CRU/TENDA

Qatar Petroleum may have sold August-loading low-sulphur condensate at 50 cents a barrel below Dubai quotes, traders said.

 

ASIA-PACIFIC CRUDE: Spot premiums for Malaysian grades stayed firm as Petronas has sold a cargo of Labuan crude at $5.80-$5.90 a barrel above dated Brent, traders said.

Santos issued a tender to sell 575,000 barrels of Cooper Basin crude to load on Aug. 26-30 which will close on June 24.

 

REFINERY

Caltex Australia on Thursday said it expects first-half profit to be less than half of what it was a year earlier, sending its shares down a fifth as the petrol station owner grapples with slowing economic growth and margin pressure. 

 

NEWS

Iran has shot down a U.S. drone which the elite Revolutionary Guards said on Thursday was flying over southern Iran, raising fears that a major military confrontation could erupt between Tehran and Washington. 

U.S. oil refiner Phillips 66 is proposing a deepwater crude export terminal off the U.S. Gulf Coast, the company said on Wednesday, challenging at least eight other projects aiming to send U.S. shale oil to world markets. 

OPEC's month-long wrangle over a date for its next meeting has highlighted a changing dynamic in the group with decisions increasingly driven by long-time leader Saudi Arabia in tandem with non-OPEC Russia, angering member states like Iran. 

U.S. oil stockpiles fell across the board last week, with crude inventories dropping more than expected and refined products posting surprise drawdowns due to a rise in refining and crude exports, and drop in crude production, the Energy Information Administration said. 

A gasoline cargo is set to make a rare voyage to Australia from the U.S. Gulf Coast as swelling stockpiles have suppressed regional prices, opening up this unusual arbitrage opportunity, sources familiar with the matter said this week. 

Nigerian President Muhammadu Buhari has appointed a new group managing director of the Nigerian National Petroleum Corporation (NNPC), the state oil firm said on Thursday, one of his first appointments since starting a second term in office last month.

(Reporting by Florence Tan; Editing by Rashmi Aich) ((Florence.Tan@thomsonreuters.com; +65 6870 3497; Reuters Messaging: florence.tan.thomsonreuters.com@reuters.net))utright prices 0#C-A ))