Middle East Crude-Dubai, Murban ease; Oman rises

ReutersOct 27, 2025 10:14 AM

SINGAPORE, Oct 27 (Reuters) - Middle East crude benchmarks Dubai and Murban came off on Monday, while that of Oman increased, after a strong rally last week.

The market jumped last week as Western sanctions on Russian top producers caused tighter supply outlook and buyers' switching to source from the Middle East and other countries.

Monday's trading activities also grew.

Investors are now focusing on the trade talks between U.S. and China.

Negotiators from the world's top two economies on Sunday outlined the framework for a deal to pause steeper American tariffs and Chinese rare earths export controls, ahead of a Thursday meeting between President Donald Trump and China's Xi Jinping.

SINGAPORE CASH DEALS

Cash Dubai's premium to swaps fell 32 cents to $2.60 a barrel.

PetroChina will deliver three December-loading Upper Zakum cargoes to Mercuria following the deals.

Trafigura and Exxonmobil will each deliver one December-loading Upper Zakum cargoes to Mercuria following the deals.

SELLER-BUYER	PRICE ($/BBL)
EXXONMOBIL-MERCURIA	67.75
EXXONMOBIL-MERCURIA	67.80
PETROCHINA-MERCURIA	67.80
PETROCHINA-MERCURIA	67.80
TRAFIGURA-MERCURIA	67.80
EXXONMOBIL-MERCURIA	67.80
PETROCHINA-MERCURIA	67.80
PETROCHINA-MERCURIA	67.80
TRAFIGURA-MERCURIA	67.80
EXXONMOBIL-MERCURIA	67.80
PETROCHINA-MERCURIA	67.80
PETROCHINA-MERCURIA	67.80
EXXONMOBIL-MERCURIA	67.80
TRAFIGURA-MERCURIA	67.80
SHENGHONG-MERCURIA	67.80
PETROCHINA-MERCURIA	67.80
EXXONMOBIL-MERCURIA	67.80
PETROCHINA-MERCURIA	67.80
PETROCHINA-MERCURIA	67.80
EXXONMOBIL-MERCURIA	67.80
PETROCHINA-MERCURIA	67.80
PETROCHINA-MERCURIA	67.80
TRAFIGURA-MERCURIA	67.80
EXXONMOBIL-MERCURIA	67.80
PETROCHINA-MERCURIA	67.80
PETROCHINA-MERCURIA	67.80
EXXONMOBIL-MERCURIA	67.80
PETROCHINA-MERCURIA	67.80
EXXONMOBIL-MERCURIA	67.80
PETROCHINA-MERCURIA	67.80
PETROCHINA-MERCURIA	67.80
PETROCHINA-MERCURIA	67.80
EXXONMOBIL-MERCURIA	67.80
PETROCHINA-MERCURIA	67.80
TRAFIGURA-MERCURIA	67.80
PETROCHINA-MERCURIA	67.80
PETROCHINA-MERCURIA	67.80
PETROCHINA-MERCURIA	67.80
PETROCHINA-MERCURIA	67.80
TRAFIGURA-MERCURIA	67.80
PETROCHINA-MERCURIA	67.80
PETROCHINA-MERCURIA	67.80
TRAFIGURA-MERCURIA	67.80
PETROCHINA-MERCURIA	67.80
TRAFIGURA-MERCURIA	67.80
PETROCHINA-MERCURIA	67.80
SHENGHONG-MERCURIA	67.80
PETROCHINA-MERCURIA	67.80
SHENGHONG-MERCURIA	67.82
PETROCHINA-MERCURIA	67.80
PETROCHINA-MERCURIA	67.80
EXXONMOBIL-MERCURIA	67.75
EXXONMOBIL-MERCURIA	67.75
GUNVOR-MERCURIA	67.75
GUNVOR-MERCURIA	67.75
PETROCHINA-MERCURIA	67.74
PETROCHINA-MERCURIA	67.74
EXXONMOBIL-MERCURIA	67.75
PETROCHINA-MERCURIA	67.74
PETROCHINA-MERCURIA	67.74
TRAFIGURA-MERCURIA	67.74
PETROCHINA-MERCURIA	67.74
TRAFIGURA-MERCURIA	67.74
PETROCHINA-MERCURIA	67.74
PETROCHINA-MERCURIA	67.74
SHENGHONG-MERCURIA	67.74
PETROCHINA-MERCURIA	67.74
PETROCHINA-MERCURIA	67.74
EXXONMOBIL-MERCURIA	67.75
PETROCHINA-MERCURIA	67.74
PETROCHINA-MERCURIA	67.74
SHENGHONG-MERCURIA	67.74
PETROCHINA-MERCURIA	67.74
PETROCHINA-MERCURIA	67.74
PETROCHINA-MERCURIA	67.74
TRAFIGURA-MERCURIA	67.75
EXXONMOBIL-MERCURIA	67.74
EXXONMOBIL-MERCURIA	67.70
EXXONMOBIL-MERCURIA	67.70
EXXONMOBIL-MERCURIA	67.70
PETROCHINA-MERCURIA	67.66
TRAFIGURA-RELIANCE	67.68
PETROCHINA-MERCURIA	67.68
PETROCHINA-MERCURIA	67.68
PETROCHINA-MERCURIA	67.68
PETROCHINA-MERCURIA	67.68
TRAFIGURA-MERCURIA	67.65
PETROCHINA-RELIANCE	67.66
EXXONMOBIL-MERCURIA	67.68
PETROCHINA-MERCURIA	67.66
PETROCHINA-MERCURIA	67.66
PETROCHINA-MERCURIA	67.66
PETROCHINA-MERCURIA	67.66
PETROCHINA-MERCURIA	67.66
SHENGHONG-MERCURIA	67.68
PETROCHINA-MERCURIA	67.66
PETROCHINA-MERCURIA	67.66
UNIPEC-RELIANCE	67.60
PETROCHINA-MERCURIA	67.66
PETROCHINA-MERCURIA	67.66
PETROCHINA-MERCURIA	67.66
PETROCHINA-MERCURIA	67.66
PETROCHINA-MERCURIA	67.66
PETROCHINA-MERCURIA	67.66
PETROCHINA-MERCURIA	67.66

PRICES ($/BBL)

	CURRENT	PREV SESSION
GME OMAN	67.84	68.13
GME OMAN DIFF TO DUBAI	2.78	2.30
CASH DUBAI	67.66	68.75

NEWS

Iraq is in negotiations over the size of its OPEC quota within its available capacity of 5.5 million barrels per day, oil minister Hayan Abdel-Ghani said at an oil conference on Monday.

Nigeria's Dangote Petroleum Refinery plans to more than double its production capacity to 1.4 million barrels per day (bpd), up from 650,000 bpd, its owner Aliko Dangote said on Sunday.

Energy and commodities trader BGN said it has hired three traders in Singapore as it expands oil trading in the region.

Iraq's total oil exports stand at 3.6 million barrels per day, Oil Minister Hayan Abdel-Ghani said on Monday, adding that a fire at Iraq's Zubair oilfield on Sunday did not impact shipments.

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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