RTRS:Middle East Crude-ADNOC's differentials to Dubai higher
SINGAPORE, Nov 6 (Reuters) - The United Arab Emirates' Abu
Dhabi National Oil Company (ADNOC) cut the official selling
price (OSP) of all its grades of crude, although their
differential to the Dubai average rose.
The OSPs for October, announced with retroactive effect were
cut by about $2.2-$2.25 per barrel for all grades but their
differentials to Dubai increased by 10-15 cents.
Traders said premiums on Murban crude for January cargoes
trading this month may weaken further because of the higher
differentials to Dubai.
Murban premiums for December cargoes weakened to 10-15 cents
a barrel above OSP from 90 cents a barrel the month before,
after OSP differentials to Dubai jumped by $1.12 last month.
*TRADES:
- Royal Dutch Shell bought seven January Dubai partials at
$105.15 per barrel. Phibro sold four partials and Unipec sold
three to Shell.
- Trafigura bought three January Dubai partials at $105.10
per barrel. SK Energy sold one partial and Mercuria was the
seller of the other two.
*MARKET NEWS
- North Sea Brent crude oil loadings will rise to around
135,000 barrels per day (bpd) in December, up from 120,000 bpd
originally scheduled for November, trade sources said. The
December Brent loading schedule lists seven cargoes of 600,000
barrels each, up from six cargoes in November.
- An explosion hit the main oil pipeline feeding a refinery
on the western edge of the Syrian city of Homs on Tuesday during
fighting between rebels and army forces in the area, opposition
activists said.
- The steady recovery in the New York Harbor's energy
network hit a bump on Monday, one week after powerful storm
Sandy ripped through the eastern seaboard, after Phillips 66
said its New Jersey refinery will not return to service for two
to three weeks.
- Norwegian oil firm DNO has found more oil in the Benenan
field in Iraq's Kurdistan region, more than doubling its proven
and probable reserves in the field where it expects to hit full
production in 2014.
CRUDE Price Prev Change
JAN DME Oman diff to Dubai 2.00
DEC Brent 107.35 105.17 +2.18
JAN Dubai 103.14 101.42 +1.72
JAN DME Oman 105.12 103.42 +1.70
DEC Brent/Dubai EFS DUB-EFS-1M 3.55 3.10 +0.45
PRODUCT CRACKS
DEC fuel oil crack -10.07 -9.34 -0.73
DEC gasoil crack 17.90 18.22 -0.32
DEC naphtha crack -6.07 -5.17 -0.90
COMPLEX REFINERY MARGINS
Today 4.88
Last 5 days 6.34
Last 365 days 7.28
