Cash Dubai's premium to swaps rose $2.26 to $3.00 a barrel.
| SELLER-BUYER | PRICE ($/BBL) |
|---|
| VITOL-BP | 82.40 |
| UNIPEC-BP | 82.40 |
| SHENGHONG-PETROCHINA | 82.40 |
| MERCURIA-BP | 82.50 |
| UNIPEC-BP | 82.50 |
| CURRENT | PREV SESSION |
|---|
| GME OMAN | 81.79 | 79.45 |
| GME OMAN DIFF TO DUBAI | 2.29 | 0.58 |
| CASH DUBAI | 82.50 | 79.61 |
Abu Dhabi National Oil Co sold less crude to Asian refiners in its latest tender than earlier ones due to uncertainty over shipping via the Strait of Hormuz after the U.S.-Iran war escalated, trade sources said.
Buyers in the latest tender included Taiwanese refiner CPC and South Korea's GS Caltex, they said.
CPC likely bought about 2 million barrels of Upper Zakum crude at a discount of about $4 a barrel to Dubai quotes for ship-to-ship transfer off the Fujairah port in the United Arab Emirates or Oman's Sohar port, the sources said.
GS Caltex purchased 2 million barrels of Das crude, but the price was not immediately known, they added.
ADNOC may have also sold some crude to an Indian refiner, traders said, but details were unclear.
The tender was the sixth the UAE producer has issued since June. ADNOC had offered Upper Zakum, Umm Lulu and Das crude to buyers for August-September loading, according to the document.
However, oil transfers between tankers in waters outside the Strait of Hormuz have slowed following a wave of recent attacks on vessels by Iranian forces.
Greek shipping company Dynacom Tankers said two of its managed vessels were hit by projectiles of unknown origin on Monday while sailing off the coast of Oman.
Goldman Sachs said on Monday that Brent crude could top $120 a barrel in the fourth quarter this year and average $100 a barrel next year if flows through the Strait of Hormuz remain disrupted and Gulf output only fully recovers by the end of 2027.
Vessel crossings via the Strait of Hormuz dropped further at the start of the week, shipping data showed, as caution grew following a fresh exchange of attacks between the United States and Iran. A total of four commodity vessels crossed the strait on Monday, mostly on the Iranian route, down from seven the previous day, Kpler data showed.
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