Crude Oil
August 26, 2026
CRUDE MOC: Middle East medium sour crude differentials inch lower
By Irene Tang
Editor:
HIGHLIGHTS
Cash October Dubai dips
Mercuria bids for Omani crude cargo
Cash differentials for Middle East medium sour crude markers inched lower during the Singapore Platts Market on Close assessment process Aug. 26, while buying interest was seen for Omani crude.
Platts, part of S&P Global Energy, assessed October cash Dubai and cash Oman both at premiums of $9.38/b to same-month Dubai futures at market close, down 18 cents/b day over day.
October cash Murban was assessed 85 cents/b higher, at a premium of $14/b to same-month Dubai futures.
During the MOC, seven October Dubai partials, each of 25,000 barrels, were traded. Unipec was the sole seller, and Mercuria was the sole buyer.
No convergences were reached during the MOC. A convergence occurs when 20 partials are traded between two counterparties in the same direction, resulting in a full 500,000-barrel physical cargo being declared from the seller to the buyer.
At the end of the MOC, Mercuria had bid for 500,000 barrels of Omani crude for loading over Oct. 1-28 during the Aug. 26 MOC, at a premium of $8.40/b to Platts October Dubai crude assessments, FOB.
August-to-date MOC trade and convergence data:
| TOTAL PARTIALS TRADES | 94 |
| Crude grades declared: | |
| Oman | 2 |
| TOTAL CONVERGENCES | 2 |
| Crude cargoes traded: | |
| Oman | 1 |
| Source: S&P Global Energy |
