SINGAPORE: The Middle East crude benchmarks ended the week on a firm note on Friday with Dubai and Oman at small premiums to Dubai swaps.
Cash Dubai nudged up 11 cents to 29 cents a barrel above swaps, supported by purchases from Shell and Mercuria.
The two companies bought an August partial each from Reliance and SK Energy at $47.85 and $47.90 a barrel, traders said.
Iraq has raised the July official selling price (OSP) for Basra Light crude to Asia by $0.30 to minus $1.10 a barrel against the average of Oman/Dubai quotes from the previous month, the State Oil Marketing Organization (SOMO) said on Friday.
Basra Heavy to Asia in the same month was priced at minus $5.60 a barrel to Oman/Dubai quotes, SOMO said in an e-mailed statement.
Kuwait set its July official selling price (OSP) for crude sales to Asia at $1.50 a barrel below the average of Oman/Dubai crude, up 30 cents a barrel from June, trading sources said on Thursday.
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