Middle East Crude-Benchmarks gain, underpinned by Indian demand — TradingView News

Middle East crude benchmarks of Oman, Dubai and Murban gained on Tuesday, with the market underpinned by enhanced buying from India for near-term supply as the country lowered its Russian oil purchase.

Meanwhile, investors were weighing the possibility that talks between Russia, Ukraine and the U.S. to end the war in Ukraine could lead to the lifting of sanctions on Russian crude, raising supply.

SINGAPORE CASH DEALS

Cash Dubai’s premium to swaps rose 11 cents to $2.28 a barrel.

Unipec will deliver an October-loading Oman crude cargo to PetroChina following the deals.

PRICES ($/BBL)

NEWS

Indonesia plans to build a network of small modular refineries to process U.S. and domestic oil, aiming to reduce gasoline imports, but analysts warn the switch in strategy from large-scale refining facilities could prove uneconomical.

Private investment firm Raisa Energy is selling a package of oil and gas wells across numerous U.S. shale basins that may fetch around $1.5 billion, people familiar with the matter said.

Russian crude oil flows to Hungary and Slovakia via the Druzhba pipeline were halted on Monday, officials in Hungary and Slovakia said, with Budapest blaming a Ukrainian attack on a part of the network.

U.S. crude oil and gasoline stockpiles were expected to have fallen last week, while distillate inventories likely rose, a preliminary Reuters poll showed on Monday.

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