Middle East crude benchmarks Dubai and Murban both fell on Friday, with Dubai falling for a second consecutive day.

SINGAPORE CASH DEALS

Cash Dubai’s premium to swaps rose 8 cents to $0.53 a barrel.

Trafigura will deliver a December-loading Upper Zakum crude cargo to Mitsui following the deals.

NEWS

U.S. crude stocks rose more than expected last week as refining crude runs dropped sharply to their lowest in more than a year and a half, data from the Energy Information Administration showed on Thursday.

The United States and India have held productive trade talks, and Indian refiners are already cutting Russian oil imports by 50%, a White House official told Reuters on Thursday. However, Indian sources said the cut was not visible yet, though it could be reflected in import numbers for December or January.

China’s CNPC has continued to export crude from a newly expanded oilfield in Niger that has generated more than $2 billion in revenue despite disputes with government officials over hiring more local workers and improving their benefits, sources with knowledge of the situation said.

Two Indian refiners have bought 4 million barrels of Guyanese crude oil from U.S. major Exxon Mobil to be delivered at the end of 2025 or in early 2026, in rare imports from the South American producer, trade sources said on Friday.
Source: Reuters