Middle East crude benchmark spot premiums of Oman and Dubai held steady on Tuesday, while that of Murban extended gains and hit its highest in one week.

SINGAPORE CASH DEALS

Cash Dubai’s premium to swaps rose one cent to $2.97 a barrel.

Reliance will deliver a September-loading Upper Zakum crude cargo to Gunvor following the deals.

Phillips 66’s 258,500 barrel-per-day Bayway refinery in Linden, New Jersey, was operating normally as of this past weekend, the company said.

Sales of bunker fuel softened at the United Arab Emirates’ Fujairah port in the first half of 2025, falling 5% from the same period in 2024, data from the Fujairah Oil Industry Zone (FOIZ) showed.

Norway’s combined oil and gas production exceeded an official forecast by 2.3% in June, the Norwegian Offshore Directorate (NOD) said on Tuesday.

A tanker chartered by energy major BP left a port run by newly sanctioned Indian refiner Nayara Energy without loading, according to five industry sources and LSEG shipping data, a sign fresh European Union curbs on Russia are beginning to bite.

Shell and other leading energy groups have abandoned a six-year-long attempt to define a net zero emissions strategy after being told that such a standard would require them to stop developing new oil and gas fields, the Financial Times reported on Tuesday, citing documents seen by the newspaper.
Source: Reuters