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 a link to reset your password.


  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you a link to reset 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

Oct Brent/Dubai spread pushes past $3/b on softer outlook

Coal | Thermal Coal | Electric Power | Emissions | Renewables | LNG | Oil | Crude Oil | Refined Products | Metals | Non-Ferrous | Coronavirus

Market Movers Asia Oct 26-30: China's five-year plan, SIEW 2020 in focus

Oil

Platts Market Data – Oil

Oil | Natural Gas | LNG | Biofuels | Shipping

Brazil Oil and Gas Virtual Forum

Oil | Crude Oil | LPG

Libyan oil onrush could maim Atlantic Basin sweet crudes

Oct Brent/Dubai spread pushes past $3/b on softer outlook

Singapore — Benchmark Dubai crude futures' discount to ICE Brent trading for October pushed past the key $3/b threshold Wednesday morning in Asia, with a softer trading month expected over August for October-loading sour crude barrels.

Not registered?

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

Register Now

At 11 am in Singapore (0300 GMT), the October Brent/Dubai Exchange of Futures for Swaps spread was notionally assessed at $3.16/b, rising from $2.93/b assessed at the close of trading in Asia on Monday.

The September Brent/Dubai EFS also showed weakness on the Dubai leg Wednesday morning, pegged at $2.35/b compared to $2.27/b Tuesday evening.

Crude oil traders said they expect a significant portion of scheduled turnarounds for Asian refiners to kick in starting October, which would push down demand for Middle East sour crude barrels.

Crude scheduled to load in October from Middle East ports will typically trade over the month of August.

On the other hand, some traders said they were receiving October inquiries for sour crude grades before July has ended, implying some urgency on the buy side.

Demand from China, specifically Shandong, could be down next month as the province undergoes manufacturing caps to limit pollution, market participants based there said.

The premium held by Oman crude -- a staple for Chinese independent refiners -- dropped significantly in the last few days of July after averaging 44 cents over Dubai for the month, Platts data showed.

Platts September cash Oman was assessed at parity to Dubai on Tuesday, in line with strong selling interest seen for the medium sour grade during the Platts Market on Close assessment process.

Oman's premium to Dubai futures dropped 39 cents/b on the day to $1.58/b Tuesday evening, the same premium as between September Dubai cash and futures.

--Eesha Muneeb, eesha.muneeb@spglobal.com

--Edited by Geetha Narayanasamy, geetha.narayanasamy@spglobal.com