In this list
Oil

DUBAI FUTURES: Spot trading commences amid steady market structure

Energy | Energy Transition | Oil | Crude Oil | Refined Products | Gasoline | Jet Fuel

The good, bad and the ugly for Asian oil markets in 2022

Energy | Oil | Crude Oil

Platts Crude Oil Marketwire

Energy | Oil | Petrochemicals | Olefins | Polymers | Crude Oil

Asian Refining and Petrochemicals Summit

Metals | Energy | Oil | Natural Gas | LNG | Shipping | Agriculture | Crude Oil | Refined Products | Energy Oil | Bunker Fuel | Fuel Oil | Marine Fuels

ANALYSIS: Commodity trading, shipping hubs anxious on proposed Russia sanctions

Metals | Steel | Steel Raw Materials

6 key drivers shaping China’s steel sector in 2022

DUBAI FUTURES: Spot trading commences amid steady market structure

Spot trading activity picked up in the Middle East sour crude market Oct. 14, reflecting healthy demand from end-users in Asia, particularly in Japan.

Not registered?

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

Register Now

At 11 am in Singapore (0300 GMT), the December Brent/Dubai EFS was pegged at $4.04/b, down 7 cents/b from the Asian close Oct. 13, S&P Global Platts data showed.

Despite the day-on-day narrowing of the Brent/Dubai EFS, the spread remains wide as it is firmly above $4/b, making the procurement of Dubai-linked sour crudes economically favorable for end-users.

Japanese end-users, who typically favor sour crudes due to their refinery configurations, were heard to have recently purchased several cargoes of Murban and Banoco Arab Medium crudes, though details could not be confirmed at the time of writing.

"Banam [Banoco Aram Medium] only [bought by] Japan I think," said a crude oil trader, adding that trades for cargoes of the grade available for spot trading were heard to be mostly done.

The demand from Japanese refineries is expected to be healthy this month, supported by seasonal winter demand, sources said.

The intermonth spreads remained largely steady from close Oct. 13.

The November-December Dubai crude futures spread was pegged at 98 cents/b in backwardation, 2 cents/b down from the Asian close Oct. 13, Platts data showed.

The December-January spread was pegged at 75 cents/b in backwardation, down 1 cent/b from the previous day's close.