Middle East Crude-Oman hits near three-week high, Dubai edges down

ReutersJul 10, 2025 9:58 AM

SINGAPORE, July 10 (Reuters) - The Middle East crude benchmark spot premium of Oman rose to a near three-week high on Thursday, while that of Dubai edged lower.

Overall, the Mideast market has been supported by tight supply as producing countries burn more for rising power demand at home amid summer heat and good buying appetite from Asia.

Oil prices declined moderately on Thursday as investors weighed the potential impact of U.S. President Donald Trump's tariffs on global economic growth.

SINGAPORE CASH DEALS

Cash Dubai's premium to swaps fell 12 cents to $3.04 a barrel.

SELLER-BUYER	PRICE ($/BBL)
PETROCHINA-VITOL	71.30
PETROCHINA-EXXONMOBIL	71.29
PETROCHINA-VITOL	71.30
PETROCHINA-VITOL	71.26
PETROCHINA-VITOL	71.26
PETROCHINA-GUNVOR	71.25
PETROCHINA-VITOL	71.26
RELIANCE-VITOL	71.26
PETROCHINA-EXXONMOBIL	71.26
RELIANCE-VITOL	71.26
PETROCHINA-VITOL	71.26
PETROCHINA-VITOL	71.26
HENGLI-VITOL	71.26
PETROCHINA-EXXONMOBIL	71.26
RELIANCE-VITOL	71.27
PETROCHINA-VITOL	71.26
GLENCORE-GUNVOR	71.28
PETROCHINA-VITOL	71.26
GLENCORE-VITOL	71.25
PETROCHINA-VITOL	71.26
RELIANCE-GUNVOR	71.27
RELIANCE-VITOL	71.25

PRICES ($/BBL)

	CURRENT	PREV SESSION
GME OMAN	71.88	72.17
GME OMAN DIFF TO DUBAI	3.67	3.53
CASH DUBAI	71.25	71.80

NEWS

The prompt price spread between diesel prices in Asia and Europe widened further to nearly $120 per metric ton, the highest in slightly more than 2-1/2 years, LSEG data showed on Thursday.

U.S. crude oil stockpiles rose unexpectedly last week, while gasoline drew down on the back of strong driving demand ahead of the July 4 weekend.

Global commodities trading house Gunvor intends to mothball the terminal activities at its Europoort oil refinery in Rotterdam, Netherlands, a company spokesperson said on Wednesday.

Nigeria's Dangote petroleum refinery will construct storage tanks in Namibia to hold at least 1.6 million barrels of gasoline and diesel to supply refined fuel to southern Africa, two sources told Reuters on Wednesday.

For crude prices, oil product cracks and refining margins, please click on the RICs below.

Brent	BRENTSGMc1
Dubai	DUBSGSWMc2
GME Oman	OQc1
Brent/Dubai EFS	DUB-EFS-1M

PRODUCT CRACKS
Fuel oil crack	FO180SGCKMc1
Gasoil crack	GO10SGCKMc1
Naphtha crack	NAF-SIN-CRK
Gasoline crack	GL92-SIN-CRK
Complex refining margins	REF/MARGIN1

RECENT CRUDE OIL TRADES:
Asia ACRU/T  Europe CRU/T Americas CRU/TU
      
CRUDE OIL MARKET NEWS      
Crude oil tenders in Asia                       CRU/TENDA
Crude oil supply outages in Asia                CRU/OUT-ASIA-O      
Refinery outages in Asia                        REF/OUT-ASIA-O      
Global arbitrage news and flows                 O/CRUDEARB      
W.African crude imports to Asia,  monthly       O/WAFRICA1      
REFINERY MAINTENANCE DIARIES      
Asia REF/A   Middle East REF/ME   Europe REF/E      
                       
NATIONAL CRUDE IMPORT DATA      
Japan     METI/JP1   China   O/CHINA1      
India     O/INDIA2   S.Korea O/KOREA1      
Indonesia O/INDO1-CRU         
                       
CRUDE OIL INVENTORY DATA      
Japan O/JAPAN1  US EIA/S  Europe O/EUROIL1      
                    
CRUDE OIL PRODUCTION/OILFIELD NEWS      
OPEC output survey OPEC/O          New Africa fields    AFR/NEW 
New projects       ENERGY/NEW      New Americas  fields AM/NEW
CRUDE OIL MARKET REPORTS      
Middle East             CRU/MAsia-Pacific         CRU/AP      
West Africa             CRU/WAF  North Sea            CRU/E      
Asia outlook            ASIA/CRU Europe outlook       EUR/CRU      
Global futures report   O/R      Technicals report    O/I      
                            
PRICES      
For all Official Selling  Prices       OSP/O      
For a POLL on oil  prices              O/POLL      
NYMEX and ICE oil  futures             OILOIL      
TOCOM crude oil  futures               0#JCO:      
Dubai, Oman swaps and  spread          ASIA/SWAP/CRUDE      
Middle East physical crude diffs       CRUDE/ASIA2      
Australia physical crude, Tapis swaps  CRUDE/ASIA1      
Asia-Pacific physical crude            CRUDE/ASIA3      
All Asian crude oil  differentials     0#C-DIF-A
All Asian crude oil outright  prices   0#C-A

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