SINGAPORE- Middle East crude benchmarks Oman and Dubai were mixed on Tuesday as trading winds down near the month-end.
Saudi Arabia is prepared to support extending oil cuts by OPEC and allies into May and June and is also ready to extend its own voluntary cuts to boost oil prices amid a new wave of coronavirus lockdowns, a source briefed on the matter said.
China will receive another large influx of cheap Iranian oil in March passed off as crude from other origins, curbing the top importer's appetite for crudes from other suppliers, according to traders and analysts.
REFINERY
Japan's Eneos Corp shut the 127,500 barrels-per-day crude distillation unit (CDU) and the remaining units at its Wakayama refinery on Monday due to a failure of compressed air equipment and a fire at a building of an air supply device, a company spokeswoman said on Tuesday.
Indonesian state oil firm Pertamina said on Tuesday it was still trying to fully extinguish a fire that broke out at its Balongan refinery a day before, injuring six people and prompting the evacuation of hundreds of nearby residents.
NEWS
Lim Oon Kuin, the founder of collapsed oil trading firm Hin Leong Trading Pte Ltd, is expected to face another 23 charges of forgery-related offences soon, Singapore's prosecution said.
A delivery margin requirement under ICE Clear Europe for the newly launched Murban crude futures contract could make it more costly for buyers to take physical oil delivery on the exchange, industry sources said on Tuesday.
Shipping was on the move again late on Monday in Egypt's Suez Canal after tugs refloated a giant container ship which had been blocking the channel for almost a week, causing a huge build-up of vessels around the waterway.
India and the United States have agreed to revamp their strategic energy partnership to focus on greater collaboration in cleaner energy sectors such as biofuels, and hydrogen production, an Indian government said in a statement on Monday.
(Reporting By Shu Zhang; editing by Uttaresh.V) ((shu.zhang@thomsonreuters.com; +65-6870-3549; Reuters Messaging: Twitter @shuzhang4))ght prices 0#C-A ))
