Middle East crude benchmark spot premiums for Oman and Dubai rallied for a second day on Wednesday, while that of Murban also edged up.

High freight threatened to lower oil shipment from the United States to Asia, which had been a factor weighed down Middle Eastern barrels.

SINGAPORE CASH DEALS

Cash Dubai’s premium to swaps rose 26 cents to $2.64 a barrel.

Mercuria will deliver three November-loading Upper Zakum crude cargoes following, two to NPI and one to Gunvor.

NEWS

U.S. oil major Chevron CVX is only able to export about half the crude its joint ventures produce in Venezuela with the latest rules laid out by Washington, three sources close to the matter said.

Pipeline oil exports from Iraq’s Kurdistan region to Turkey had yet to restart on Tuesday despite hopes of a deal to end the deadlock, as two key producers asked for debt repayment guarantees.

Kremlin spokesman Dmitry Peskov, asked about the possible return of Exxon Mobil XOM to Russia, said on Wednesday the U.S. energy major was not the only company keen to return to the country.

Talks for Saudi state oil giant Aramco 2222 to buy a minority stake in Spanish energy firm Repsol’s REP renewables unit have hit an impasse, two sources familiar with the matter told Reuters.
Source: Reuters