RTRS:Middle East Crude-April Murban premiums discussed higher
SINGAPORE, Feb 8 (Reuters) - Middle East crude levels
picked up on Wednesday, although no deals were heard concluded,
industry sources said.
Abu Dhabi's April loading Murban crude cargoes, a benchmark
grade, was discussed at premiums of between 3 and 5 cents to
ADNOC official selling prices (OSP).
The United Arab Emirates' main exporter of crude oil will
fulfill all supply contracts to Asia for March, for the first
time in almost a year, to help the region's top buyers cut their
dependence on oil from sanctions-hit Iran.
* EFS
- Front-month Brent/Dubai Exchange of Futures for Swaps
(EFS) for March DUB-EFS-1M rose 22 cents to $3.12 a barrel.
* OMAN ASSESSMENTS
- April Oman traded on the DME was valued at a premium of
$1.62 cents to Dubai swap quotes at 0830 GMT, using the
settlement price for DME futures, the ICE one-minute marker for
Singapore and the Brent-Dubai EFS as calculated by Reuters.
* MARKET NEWS
- Swiss-based commodities trader Trafigura has bought oil
which the South Sudanese government claims was seized by Sudan,
its northern neighbour and former civil war foe, industry
sources told Reuters, and is now in a legal dispute over
ownership.
- China is scouring the world for alternative oil supplies
to replace a fall in its imports from Iran, as it seeks to
negotiate lower prices from Tehran, and has been drawing heavily
on Saudi Arabia.
* REFINERY MARGINS
- The complex refining margin for Dubai in Singapore was
$9.01 per barrel, down from an average of the last five days of
$10.13, Reuters data show. Over the last year, the average
margin has been $8.18 cents per barrel.
* CRACK SPREADS
- Fuel oil's March crack was steady at a discount of $3.70 a
barrel to Dubai crude.
- Gasoil's March crack strengthened 19 cents to a premium of
$18.76 a barrel to Dubai crude.
- Naphtha's front-month crack eased 91 cents to a discount
of $6.67 a barrel to Brent crude.
* OUTRIGHT PRICES
- March ICE Brent was at $116.67 a barrel by 0830
GMT, up 88 cents from the previous session.
- April Oman was trading at $115.17 by 0830 GMT, up
56 cents from the previous session.
