Middle East crude benchmarks increased on Tuesday, with Murban staying around the highest in two months, thanks to firm demand from Asian buyers.

Oman and Dubai gained, while the latter remained as negative.

Oil prices were steady on Tuesday as investors monitored U.S. President Donald Trump’s threats of higher tariffs on European states over his drive to acquire Greenland, while firmer global economic growth expectations and better-than-expected economic data from China gave a floor to prices.

SINGAPORE CASH DEALS

Cash Dubai’s premium to swaps rose 3 cents to -8 cents a barrel.

NEWS

China’s total fuel oil imports fell in 2025 after hitting a record high in 2024, as lower import tax rebates weighed on demand from independent refineries.

The head of the Syrian Petroleum Company, Youssef Qeblawi, said on Monday that oil major Shell SHEL had asked to withdraw from the al-Omar oilfield and transfer its share to Syria’s state-owned operators but that U.S. companies were interested in the country’s energy sector.

French oil major TotalEnergies TTE expects lower oil and liquefied natural gas sales in the fourth quarter of 2025, but stronger downstream results, as higher refining margins help offset weaker crude and LNG prices.

Iraq will export a total of 223,000 barrels per day in February, up by 21% on the month, loading programmes seen by Reuters show.
Source: Reuters