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Markets

Middle East Crude-Benchmarks strengthen to 7-week high

  • Pertamina closed a condensate procurement tender for April delivery.
Published February 2, 2021

SINGAPORE: Middle East crude benchmarks Oman and Dubai on Tuesday rose to their highest since Dec. 16, tracking a price rally in global oil futures.

Indonesia has set the official Indonesia Crude Price (ICP) for Minas crude oil at $54.41 a barrel for January, up $4.94 from the previous month, a pricing document seen by Reuters showed on Tuesday.

Pertamina closed a condensate procurement tender for April delivery.

Pertamina is seeking crude for April delivery via a tender to be closed on Wednesday. It is unclear if the buyer had awarded last week's crude tender for April arrival.

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