Middle East Crude-Benchmarks rally as US and Iran resume fighting
XLE•Related crude market news
An unprecedented deal for the U.S. to gain access to a fifth of Venezuela's oil reserves - and the central role a Venezuelan businessman will play - is prompting questions and hesitation from some oil companies evaluating potential investments in the country, sources familiar with the situation told Reuters.
Iraq has set floor prices for its Basrah Medium oil offered via a tender for loading in September from outside the Strait of Hormuz, a tender document reviewed by Reuters showed on Tuesday.
Russian air attacks killed 12 people and injured several more in Kyiv and the surrounding region early on Tuesday, authorities said, in the sixth consecutive day of strikes on the Ukrainian capital.
Singapore cash deals and benchmark prices
Cash Dubai's premium to swaps rose $1.76 to $15.06 a barrel.
| SELLER-BUYER | PRICE ($/BBL) |
|---|---|
| UNIPEC-TRAFIGURA | 97.50 |
| UNIPEC-TRAFIGURA | 98.80 |
| UNIPEC-PETROCHINA | 98.80 |
| UNIPEC-PETROCHINA | 99.00 |
| CURRENT | PREV SESSION | |
|---|---|---|
| GME OMAN | 99.81 | 94.31 |
| GME OMAN DIFF TO DUBAI | 15.87 | 12.62 |
| CASH DUBAI | 99.00 | 94.99 |
Middle East crude benchmarks rally on renewed U.S.-Iran fighting
SINGAPORE, Sept 1 (Reuters) - Middle East crude benchmarks Oman, Dubai and Murban rallied on Tuesday, as the resumption of fighting between the U.S. and Iran in the Middle East fueled fears of further supply disruptions from the world's key oil-producing and export region.
