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

CRUDE MOC: Dubai cash/futures spread seen rangebound on steady fundamentals

Crude Oil | Oil Risk | Coronavirus

OPEC+ Oil Output Cuts

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

Oil | Crude Oil | Refined Products | Shipping

Hin Leong founder OK Lim charged in Singapore court for abetment of forgery for cheating

CRUDE MOC: Dubai cash/futures spread seen rangebound on steady fundamentals

New York — The cash/futures spread for benchmark Dubai crude is likely to stay rangebound in the near term, with market fundamentals stabilizing for the time being, trade sources said July 13.

Not registered?

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

Register Now

The spread was assessed at a premium of $1.14/b on July 13, down by 12 cents/b from the Asian close on July 9, S&P Global Platts data showed.

"If you look at [volume] allocations it's pretty much the same as last month or perhaps just a slight dip," a Singapore-based crude oil trader said.

"Market conditions look the same, with demand not seeing a huge improvement... some refineries [in Asia] are still on maintenance or running at lower rates," the trader added.

While the Dubai cash/futures spread has seen some day-on-day fluctuations, the spread remains rangebound, Platts data showed. The spread has averaged $1.14/b in July so far, similar to the assessment on July 13.

Meanwhile, the Platts Market on Close assessment process saw three 25,000-barrel September Dubai partials traded on July 13, bringing the total number of partials traded in July so far to 19.

Spot market activity for the sour crude market was still thin, with volume allocations from Saudi Aramco just out over the weekend, sources said.

The market was also keeping a close watch on an OPEC+ meeting scheduled for July 15. The OPEC+ alliance is likely to stick to its timeline of paring back its landmark production cuts in August, sources have told Platts.

The OPEC+ alliance had instituted a 9.7 million b/d cut accord in May, but expects to move to the next phase of the deal, which calls for cuts of 7.6 million b/d starting in August as scheduled instead of extending them, the sources said.

The key Joint Ministerial Monitoring Committee, co-chaired by Saudi Arabia and Russia, the two largest members of the coalition, will convene online July 15 and make a final recommendation.