Middle East crude benchmark spot premiums of Dubai and Murban ticked up on Monday, while that of Oman slipped. Benchmarks have performed strong so far this month as market fundamentals remain tight.

Oil prices were little changed on Monday, held in check by expectations that the latest European sanctions will have minimal impact on Russian oil supplies.

SINGAPORE CASH DEALS

Cash Dubai’s premium to swaps rose 15 cents to $2.96 a barrel.

PetroChina will deliver a September-loading Upper Zakum crude cargo to ExxonMobil following the deals.

NEWS

China’s fuel oil imports recovered in June after a slump in May, while bunker fuel oil exports also climbed from the previous month, customs data showed on Sunday.

U.S.-based firms Baker Hughes BKR, Hunt Energy and Argent LNG will develop a masterplan for Syria’s oil, gas and power sector, Argent LNG CEO Jonathan Bass said on Friday, in a partnership aimed at rebuilding energy infrastructure shattered by 14 years of civil war.

Rosneft ROSN, Russia’s biggest oil producer, on Sunday slammed European Union sanctions on India’s Nayara Energy refinery as unjustified and illegal, saying the restrictions directly threatened India’s energy security.

Kazakhstan’s pipeline company Kaztransoil said on Monday that oil shipments via the Atyrau-Samara pipeline rose by 4% year on year to 5.1 million tons (211,300 barrels per day) in the first half of 2025.

Indonesia’s oil production for the first six months of 2025 was 579,300 barrels of oil per day (bpd) and gas production was 6,820 million standard cubic feet per day (mmscfd), the chairman of the upstream oil and gas regulator SKK Migas said on Monday.
Source: Reuters