Middle East crude benchmark spot premiums of Oman and Murban dropped on Thursday, while that of Dubai gained amid light trading activity.
Independent refiners in China have received their first batch of crude oil import quotas for 2026 that can be used for cargoes arriving by the end of the year, multiple trade sources said on Thursday.
The release of the fresh quota is expected to boost crude imports for the world’s largest oil importer and ease a supply glut.
SINGAPORE CASH DEALS
Cash Dubai’s premium to swaps rose 8 cents to 80 cents a barrel.
NEWS
Britain will allow some new oil and gas production on or near existing fields, the government said on Wednesday, easing its stance on new licences while dashing oil and gas producers’ hopes for an early end to windfall taxes on their sector.
Hungarian oil and gas company MOL MOL will increase crude oil and fuel deliveries to Serbia after supplies to its Russia-owned NIS (NIIS.BEL) refinery were cut due to U.S. sanctions, Hungary’s Foreign Minister Peter Szijjarto said on Wednesday.
U.S. crude stocks climbed as imports rose to an 11-week high, the EIA said on Wednesday, while fuel inventories also increased as refining activity ticked higher.
Shell SHEL is ready to invest more in Italy to boost hydrocarbon production, the head of the energy group’s Italian unit said on Wednesday, urging the government to allow new drilling.
Source: Reuters
