The Middle East crude market firmed on Tuesday, with the premium for the benchmark Murban crude edging towards a double-digit premium on demand from Thai and Indian refiners. An Indian refiner bought one cargo of Murban crude for April lifting at a premium of 5-10 cents to Dubai quotes, up from 1-5 cents seen for earlier deals, a trader said. Taiwan’s Formosa Petrochemical Corporation purchased 1 million barrels of Iraqi Basra Light crude for April, another trader said, although this could not be confirmed. Philippines state refiner Petron was believed to have bought one cargo of Upper Zakum crude for April lifting via a tender. Details of the price were not known. Brent oil prices will average $110.3 a barrel this year, according to a fresh Reuters monthly oil poll, up from January’s estimate of $107.30. A change of $3 is big in a poll of over 30 analysts, and last happened at the peak of the Libyan war in May. Japan’s top oil refiner JX Nippon Oil & Energy Corporation plans to refine 5.89 million kilolitres (1.20 million barrels per day) of crude oil in March for domestic consumption, up 21 per cent from a year earlier, a company executive said on Tuesday.
GMT 18:36 2017 Tuesday ,26 December
Scenting a recovery, oil producers ratchet up spendingGMT 20:43 2017 Monday ,25 December
Oil markets will witness balance in 2018: Iraqi Oil MinisterGMT 16:17 2017 Sunday ,24 December
Iraq invites bids for new oil pipelineGMT 14:26 2017 Friday ,22 December
Energy prices bump key US inflation index up in NovemberGMT 17:59 2017 Tuesday ,19 December
Japan trade surplus drops sharply on higher oil importsGMT 17:31 2017 Thursday ,14 December
Energy costs push US consumer inflation higher as Fed meetsGMT 15:30 2017 Wednesday ,29 November
Shell resumes all-cash dividend as oil price recoversGMT 13:22 2017 Sunday ,26 November
Chinese demand teaser to weigh on Vienna oil summit
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor