Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.


  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

In this list
Oil

Dubai intermonth futures spreads narrow slightly as market braces for price hikes

Oil | Crude Oil | Gasoline | Coronavirus

China under pressure to export more refined products after Q2 oil shopping spree

Oil

Platts Market Data – Oil

Capital Markets | Commodities | Oil | Crude Oil | Refined Products | Fuel Oil | Gasoline | Jet Fuel | Naphtha | Marine Fuels | Equities | Financial Services | Banking | Non-banks | Private Markets

North American Crude Oil Summit, 3rd annual

Metals

Gold spot price breaks above $2,000/oz: analysts

Dubai intermonth futures spreads narrow slightly as market braces for price hikes

Singapore — Intermonth spreads for benchmark Dubai crude futures narrowed slightly during mid-morning trade in Asia July 6, as expectations of upcoming producer price hikes continued to keep sentiment tepid.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

At 11 am in Singapore (0300 GMT), the August/September Dubai crude futures spread was pegged at a 17-cent/b backwardation, narrowing 4 cents/b from the Asian close on July 3, S&P Global Platts data showed.

The September/October spread was pegged at a backwardation of 8 cents/b, narrowing a cent/b from the Asian close on July 3.

Saudi Aramco is expected to raise the official selling price differential for its Arab Light crude bound for Asia in August by between 80 cents/b and $3/b, participants surveyed by Platts said last week.

The expectation comes amid an uptick in the Dubai cash-futures spread in recent weeks. The spread averaged 84 cents/b over June, up $3.57/b from the average of minus $2.73/b in May. The spread was assessed at $1.01/b at the Asian close on July 3.

Nonetheless, some market participants have highlighted that refinery margins remained weak and that this could dampen buying interest in view of potential hikes.

At the moment, the market continues to look towards the issuance of new OSPs from Saudi Aramco, which was earlier expected to be released over the weekend, trade sources said on July 3.

Meanwhile, crude oil futures markers firmed in Asia trading on July 6, amid progress in compliance to OPEC+ production cuts.

Iraq's crude oil exports fell to 3.083 million b/d in June -- a 497,000 b/d drop from May and the lowest in more than five years -- indicating significant progress in implementing its cuts, Platts had reported.

September Dubai futures were pegged at $42.05/b as of 0300 GMT July 6, up 36 cents/b compared with the Asian close on July 3, Platts data showed.