Middle East crude benchmarks extended gains on Tuesday, riding concerns of tighter supplies after Washington announced that it would not give any more waivers to Iranian oil buyers. DME Oman's premium to swaps rose 17 cents to $2.07 a barrel, the highest since October. Cash Dubai's premium to swaps climbed 12 cents to $1.91 a barrel, the highest since at least 2014.
Japanese refiner Fuji Oil bought a June-loading Murban crude cargo at a premium of about 40 cents a barrel to its official selling price, traders said, up from earlier deals at premiums of 20-30 cents. Thailand's PTT bought a June-loading cargo each of Oman and Upper Zakum crude on behalf of IRPC in a tender. Taiwan's CPC may have also bought an Oman crude cargo, in addition to the three Upper Zakum cargoes it purchased in its monthly tender.
Petronas has sold a June-loading Labuan crude cargo at a premium of $5.50-$6 a barrel to dated Brent, traders said. PV Oil sold its two June-loading Chim Sao cargoes to Binh Son refinery, a trader said. Exxon Mobil offered a Banyu Urip cargo in a tender to close on Wednesday. Asia's largest refiner Sinopec is set to receive its first US crude oil cargo this week since halting imports from the country in September, two sources with knowledge of the matter said.
The supertanker Maran Artemis, carrying about 2 million barrels of US West Texas Intermediate (WTI) Midland crude, is waiting off eastern China's Qingdao port to discharge its oil, according to Refinitiv analyst Emma Li.
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