RTRS:Middle East Crude-Steady as Qatar OSP differentials unchanged
SINGAPORE, Nov 7 (Reuters) - Qatar lowered its October
official selling prices for its Marine crude by $2.35 per barrel
to $109.95 per barrel, while its differential to the Dubai
average remained steady at $1.08 per barrel.
Sentiment had been subdued after Saudi Arabia raised its OSP
for light grades and Abu Dhabi National Oil Company (ADNOC)'s
differentials increased.
Traders said the outlook for light grades has turned bearish
with some expecting Murban crude's January cargoes to trade at a
discount to OSP this month from a small premium at which the
December cargoes traded.
*TRADES:
- Royal Dutch Shell bought 6 January Dubai partials from
Phibro at $108.25-108.30 per barrel.
*MARKET NEWS
- Exxon Mobil has informed Iraq of its intention to sell its
share in the West Qurna 1 oilfield, and Baghdad will respond to
the decision by next Sunday, Iraqi oil officials said on
Wednesday.
- ChemChina, the country's largest operator of small or
"teapot" refineries, is set to win an annual crude import quota
of 10 million tonnes starting from 2013, joining a market
dominated by two major refiners, industry sources said.
- Energy companies likely will see more regulation in
President Barack Obama's second term, with less access to
federal lands and water even as the administration promotes
energy independence.
CRUDE Price Prev Change
JAN DME Oman diff to Dubai 2.06 1.98 +0.08
DEC Brent 110.52 107.35 +3.17
JAN Dubai 106.17 103.14 +3.04
JAN DME Oman 108.23 105.12 +3.11
DEC Brent/Dubai EFS DUB-EFS-1M 3.68 3.55 +0.13
PRODUCT CRACKS
DEC fuel oil crack -10.24 -10.07 -0.17
DEC gasoil crack 17.67 17.90 -0.23
DEC naphtha crack -6.52 -6.07 -0.45
COMPLEX REFINERY MARGINS
Today 5.73
Last 5 days 6.04
Last 365 days 7.27
