Middle East Crude-Benchmarks firm; Qatar Land stays in discount

SINGAPORE: Middle East crude benchmarks firmed on Tuesday amid limited trade on the Platts window.

Cash Dubai's premium to swaps rose 9 cents to 28 cents a barrel, while DME Oman's premium to Dubai quotes rose 6 cents to 70 cents.

Shell sold a March-loading Upper Zakum crude cargo to Petro-Diamond at 25 cents a barrel above Dubai quotes on the window.

Japanese refiner Fuji Oil bought two Qatar Land crude cargoes loading in March at 10-20 cents a barrel below its official selling price (OSP), traders said.

Traders are waiting for the results of sell tenders from Qatar, Russia and Iraq to gauge price direction for March-loading cargoes.

ASIA-PACIFIC CRUDE: BP has bought one March-loading North West Shelf (NWS) condensates cargo each from Woodside and BHP at discounts of about $2.50 a barrel to dated Brent, traders said.

PV Oil closed a tender on Tuesday to sell Ruby crude.

Brunei set the OSPs for December Seria Light and Champion crude at $61.39 a barrel.