Dubai rises; Saudi may lower March OSPs to Asia

Middle East crude benchmark Dubai advanced on Monday, buoyed by robust trade from PetroChina and Trafigura in the Platts window.

Sir Lanka’s Ceypetco issued tenders seeking for two Murban cargoes for mid-May delivery, with each cargo size at 700,000 barrels.

Ceypetco likely bought a Murban cargo for late April-delivery from Vitol at $7.40 a barrel above ADNOC’s April OSP on the delivery-at-place basis.

SAUDI OSP PREVIEW

State oil company Saudi Aramco may lower the official selling price of its flagship Arab Light crude by about 30 cents to Asian clients for March-loading cargoes, a Reuters survey of four refining sources showed.

SINGAPORE CASH DEALS

Cash Dubai’s premium to swaps gained 56 cents to $1.00 a barrel.

Vitol will deliver two March-loading Upper Zakum to Trafigura and PetroChina following the trade.
Source: Reuters