Benchmarks fall; Jan ESPO loading hits record high

Middle East crude benchmarks Oman, Dubai and Murban edged lower on Friday amid thin trade, while the final plan of the European Union sanction on Russian oil products is under watch.

The market is also waiting for top oil exporter Saudi Arabia to publish its official selling prices (OSPs) for March-loading cargoes.

The OSPs to Asian buyers are expected to be lowered from the previous month, as the increasing flow of Russian crude into Asia take shares of other suppliers.

RUSSIAN OIL

SINGAPORE CASH DEALS

Cash Dubai’s premium to swaps fell 6 cents to $1.77 a barrel.
Source: Reuters