Benchmarks dip, but market still optimistic over China

Middle East crude benchmarks Oman, Dubai and Murban fell on Thursday but the market sentiment remains buoyed by optimism over China’s demand recovery.

For tenders, Qatar Energy is heard to have sold two cargoes of April-loading al-Shaheen crude to Mercuria and Phillips 66, and one cargo of April-loading Qatar Marine crude to Unipec, traders said. The prices were unknown.

SINGAPORE CASH DEALS

Cash Dubai’s premium to swaps fell 35 cents to $2 a barrel. Phillips 66 will deliver one April-loading al-Shaheen cargo to Trafigura following the trade.
Source: Reuters