Middle East Crude-Benchmarks steady as market assesses spot demand

SINGAPORE, Nov 18 (Reuters) - Middle East crude benchmark spot premiums of Oman, Dubai and Murban stay unmoved on Tuesday, as market weighed ample supplies against some spot demand from China and India.

Chinese refiner Yanchang Petroleum has bought 3 million barrels of crude from the United Arab Emirates and Kazakhstan for January arrival, several trade sources said, after suspending Russian oil purchases over concerns about Western sanctions.

The company bought 2 million barrels of Abu Dhabi Murban crude from Swiss trader Mercuria and 1 million barrels of CPC Blend from Vitol, they said on Tuesday.

India's Reliance RELI.NS has purchased 1 million barrels of heavy crude from Kuwait Petroleum Corp via a tender, four trade sources said.

Last week, KPC issued a tender to sell crude oil that the Al-Zour refinery is unable to process because of unplanned maintenance after a fire.

The cargoes — 500,000 barrels of Kuwait Heavy Crude for loading on December 6 to December 7 and the same volume of Eocene crude for loading on December 8 to December 9 — were awarded to Reliance, the people said.

SINGAPORE CASH DEALS

Cash Dubai's premium to swaps rose 2 cents to 82 cents a barrel.

PTT will deliver a January-loading Upper Zakum crude cargo to Trafigura following the deals.

PRICES ($/BBL)

NEWS

U.S. oil major Chevron CVX.N is studying options to buy global assets of sanctioned Russian oil firm Lukoil LKOH.MM, five sources familiar with the process told Reuters on Monday.

China's exports of refined oil products in October rose 14% year-on-year and fell 12.1% from September, customs data showed on Tuesday.

U.S. crude oil and distillate stockpiles were expected to have fallen last week, while gasoline inventories likely rose, a preliminary Reuters poll showed on Monday.

Kuwait Petroleum Corporation said on Tuesday it had signed an agreement for a 1.5 billion dinar ($4.89 billion) syndicated loan led by the National Bank of Kuwait NBKK.KW and Kuwait Finance House KFH.KW.

For crude prices, oil product cracks and refining margins, please click on the RICs below.

(Reporting by Siyi Liu in Singapore; Editing by Shilpi Majumdar)

((siyi.liu@thomsonreuters.com;))

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