Middle East Crude-Dubai, Murban fall; PetroChina keeps up sales of partials

Middle East crude benchmarks Dubai and Murban eased on Thursday after PetroChina kept up with sales of partials on the Platts window.

The Chinese major sold seven Dubai partials in the session to Vitol and Equinor although there was no cargo delivered at the end of the trading.

SINGAPORE CASH DEALS

Cash Dubai's premium to swaps fell for the first in five sessions, down 29 cents at $2.24 a barrel.

PRICES ($/BBL)

REFINERY

Chinese state energy giant Sinopec is pushing for greater access to Sri Lanka's market, where rival India is also seeking to expand its presence, as it looks to build its first fully-controlled overseas refinery, reflecting a change in the firm's global strategy to compensate for slowing demand growth at home.

NEWS

A spring surge in U.S. gasoline prices is set to fizzle out earlier than expected as geopolitical concerns abate, raising optimism that motorists will find some relief at the pump ahead of peak summer travel demand.

Technology advances are making it possible for U.S. shale oil and gas companies to reverse years of productivity declines, but the related requirement to frontload costs by drilling many more wells is deterring some companies from doing so.

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