SINGAPORE: The Middle East crude benchmarks were little changed on Thursday as traders waited for Saudi Aramco to announce its monthly prices.
SAUDI: Saudi Arabia is expected to cut prices for all crude grades it sells to Asia in May to reflect weaker prices for its Middle East benchmark Dubai crude, trade sources said.
The OSP for flagship Arab Light crude could fall by 50-70 cents, to the lowest in six months, a Reuters survey of six refiners and traders showed.
WINDOW: Cash Dubai’s premium to swaps edged down 2 cents to 88 cents a barrel after seven June partials were traded. Chinaoil offered Murban at 20 cents above its OSP, but there were no bids. June-loading Murban could trade at 10-20 cents above its OSP this month, a trader said.
Source: Brecorder
