Middle East Crude-Benchmarks gain on Russian supply risk

ReutersAug 14, 2025 10:02 AM

SINGAPORE, Aug 14 (Reuters) - Middle East crude benchmark spot premiums of Oman, Dubai and Murban gained on Thursday, as U.S. President Donald Trump's latest threat on Russia triggered some supply concerns.

Trump threatened "severe consequences" if Russia's Vladimir Putin does not agree to peace in Ukraine but also said on Wednesday that a meeting between them could swiftly be followed by a second that would include the leader of Ukraine.

Oil prices climbed on Thursday as investors weighed what impact the U.S.-Russia summit on Ukraine on Friday might have on Russian crude flows, with secondary sanctions looming over Moscow's customers, while a rising supply outlook capped gains.

SINGAPORE CASH DEALS

Cash Dubai's premium to swaps rose 8 cents to $2.33 a barrel.

SELLER-BUYER	PRICE ($/BBL)
EXXONMOBIL-VITOL	67.70
PHILLIPS 66-PETROCHINA	67.69
PHILLIPS 66-TRAFIGURA	67.69
UNIPEC-TRAFIGURA	67.69
PHILLIPS 66-TRAFIGURA	67.69
PHILLIPS 66-PETROCHINA	67.70
EXXONMOBIL-PETROCHINA	67.70
PHILLIPS 66-TRAFIGURA	67.70
HENGLI-TRAFIGURA	67.70
GLENCORE-TRAFIGURA	67.70
RELIANCE-PETROCHINA	67.70
EXXONMOBIL-PETROCHINA	67.70
RELIANCE-TRAFIGURA	67.70
EXXONMOBIL-PETROCHINA	67.70
UNIPEC-PETROCHINA	67.71
GLENCORE-VITOL	67.71
EXXONMOBIL-VITOL	67.70
PHILLIPS 66-TRAFIGURA	67.70

PRICES ($/BBL)

	CURRENT	PREV SESSION
GME OMAN	67.66	67.36
GME OMAN DIFF TO DUBAI	2.28	2.23
CASH DUBAI	67.71	67.38

NEWS

Premiums for prompt benchmark oil prices globally are falling compared with those in future months, on rising output from the Middle East, Latin America and Europe, just as peak summer demand ends, traders and analysts said on Thursday.

U.S. crude inventories unexpectedly rose as imports increased, while gasoline stockpiles fell last week, the Energy Information Administration said on Wednesday.

Dozens of tankers have joined the shadow fleet this year compared with hundreds in previous years as the harshest Western sanctions yet target Russia's oil exports and add to the difficulty of finding suitable vessels, shipping sources said.

Reliance Industries RELI.NS, India's biggest buyer of Russian oil, has in recent weeks made rare fuel oil purchases from state-run Hindustan Petroleum Corp, seven industry sources said.

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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