Totsa, the trading arm of French major TotalEnergies, has been the sole buyer of Middle East crude during the Platts window since the start of the month, snapping up a total of 69 Oman and Murban crude cargoes so far, or 34.5 million barrels, trade data showed.<\/p>\n
The company could not be immediately reached for comment outside office hours. It had previously declined to comment on its Dubai trades.<\/p>\n
Dubai’s premium to swaps spiked to an all-time high of about $65 a barrel last week as the amount of crude available for trading fell after SP Global Platts excluded three of the five crude grades in anticipation of a prolonged disruption in shipping via the Strait of Hormuz.<\/p>\n
The price spike has caused Asian refiners to shun spot Middle East crude purchases and instead buy oil from Europe, Africa and the Americas.<\/p>\n
(Reporting by Florence Tan and Siyi Liu; Editing by Michael Perry and Shri Navaratnam)<\/p>\n","protected":false},"excerpt":{"rendered":"Totsa, the trading arm of French major TotalEnergies, has been the sole buyer of Middle East crude during…\n","protected":false},"author":2,"featured_media":39668,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[125],"tags":[190,4531,351,2518,197,1001,4601,2153,4532,7142,17,23231,23232,1197,1106,158],"class_list":["post-39667","post","type-post","status-publish","format-standard","has-post-thumbnail","category-vitol","tag-asia","tag-bp","tag-china","tag-dubai","tag-europe","tag-france","tag-mena","tag-oman","tag-shell","tag-strait-of-hormuz","tag-switzerland","tag-totalenergies","tag-unipec","tag-united-arab-emirates","tag-united-kingdom","tag-vitol"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ch\/116300517394701286","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/39667","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/comments?post=39667"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/39667\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media\/39668"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media?parent=39667"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/categories?post=39667"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/tags?post=39667"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}