RTRS:Middle East Crude-Murban holding value in firm trade
SINGAPORE, Feb 23 (Reuters) - The Middle East crude
market firmed up, with April differentials strengthening on
swift cargo trade and thinning supplies.
The Abu Dhabi benchmark grade, Murban, was pegged at a
slight premium of 0-5 cents a barrel to the ADNOC official
selling price.
*OMAN ASSESSMENTS
- April Oman traded on the DME was at a premium of $3.31 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.
* EFS
- Front-month Brent/Dubai Exchange of Futures for Swaps
(EFS) for April rose 56 cents from the previous session to $4.35
a barrel.
* MARKET NEWS
- An Iranian supertanker loaded with crude has made a rare
journey to an anchorage point off the coast of an Indonesian
island used for offshore sales and storage of oil.
- Myanmar will launch a global tender for six onshore oil
and gas blocks as the reforming Southeast Asian country seeks to
tap more foreign investment from the West, two Yangon-based
sources with direct knowledge of the deals told Reuters.
- Saudi Arabia's concern is to keep the global oil market
well supplied, its deputy oil minister said on Thursday, as top
Asian crude buyers look to the world's biggest producer to make
up for cuts in supplies from sanctions-hit Iran.
- Japan may cut Iranian crude oil imports by a
more-than-expected 20 percent as it seeks a waiver from U.S.
sanctions, a newspaper reported on Thursday, a move which would
spare its banks from a major blow but also boost its rising fuel
import bill.
- South Korean Finance Minister Bahk Jae-wan said on
Thursday the country's talks with the United States on cutting
crude oil imports from Iran under the U.S. sanctions policy were
"going smoothly."
*REFINERY MARGINS
- Complex processing margins for Dubai in Singapore were
around $6.76 per barrel, down from an average of the last five
days of $7.98, according to Reuters data. Over the last year,
the average margin has been around $8.20 per barrel.
* CRACK SPREADS
- Fuel oil's March crack gained 6 cents to a discount of
$5.60 a barrel to Dubai crude.
- Gas oil's March crack gained 15 cents to a premium of
$16.15 a barrel to Dubai crude.
- The naphtha CFR Japan front-month crack eased $1.46 cents
to a discount of $7.63 a barrel to Brent.
*OUTRIGHT PRICES
- April ICE Brent was at $122.94 a barrel at 0830
GMT, up $1.21 from the same time a day earlier.
- April Oman rose $0.67 to $121.30.