Middle East crude benchmark spot premiums of Oman, Dubai and Murban fell on Friday, as traders eyed a less demand outlook after some Indian refineries this week resumed Russian oil purchases.

On a weekly basis, benchamrks posted little movement, as market participants also focused on the progress of the talks to end Ukraine war.

SINGAPORE CASH DEALS

Cash Dubai’s premium to swaps fell 24 cents to $2.24 a barrel.

Two tankers chartered by Chevron carrying Venezuelan crude reached U.S. waters on Thursday, marking the first U.S. imports of the South American country’s oil following a new license granted by Washington, vessel tracking data showed.

Brazilian state-run oil firm Petrobras said on Thursday that its board of directors had approved Bruno Moretti as the firm’s new chairman.

Chinese independent refiner Hongrun Petrochemical has bought crude from Canada and Brazil for its Changyi refinery that recently secured an import quota, trade sources said.

Sinopec Corp will step up the elimination of inefficient, small refining units and control the pace and scale of chemicals investment, the company’s president said on Friday.

The Trump administration on Thursday issued more Iran-related sanctions, targeting 13 entities based in Hong Kong, China, the United Arab Emirates and the Marshall Islands, as well as eight vessels, the U.S. Treasury Department said.

Ukraine’s military again struck the Unecha oil pumping station, a critical part of Russia’s Europe-bound Druzhba oil pipeline, the commander of Ukraine’s unmanned systems forces said late on Thursday, and Hungary said deliveries had been halted.
Source: Reuters