Middle East Crude-Oman, Dubai discounts deepen; Murban unmoved

SINGAPORE, Jan 29 (Reuters) - Middle East crude benchmarks Oman and Dubai declined on Thursday, with Oman hitting the lowest since December 2024, while that of Murban held steady.

Oman and Dubai have been under ample supply pressure and limited demand this month.

Oil prices rose 1.5% on Thursday, extending gains for a third day, on increasing concerns the U.S. may carry out a military attack on key Middle Eastern producer Iran that could disrupt supply from the region. O/R

SINGAPORE CASH DEALS

Cash Dubai's premium to swaps fell 4 cents to -26 cents a barrel.

TotalEnergies will deliver a March-loading Upper Zakum crude cargo to Mercuria following the deals.

PRICES ($/BBL)

NEWS

Saudi Arabia, the world's biggest oil exporter, is expected to set the March price for its flagship Arab Light crude for Asian buyers at a discount for the first time since December 2020 amid ample supplies, trade sources said this week.

Kazakhstan said on Thursday that U.S. oil major Chevron CVX.N had assured the government it would take measures to ensure the reliable and safe operation of facilities at the Tengiz oilfield.

U.S. private equity firm Carlyle Group CG.O has agreed to buy most of Lukoil's LKOH.MM $22 billion worth of foreign assets, which Russia's second-largest oil company is forced to sell because of U.S. sanctions.

The global trading arm of Abu Dhabi National Oil Co (ADNOC) is leasing fuel oil storage in Singapore for the first time, five market sources said, part of the United Arab Emirates-backed oil and gas producer's plans to boost trade volumes in Asia.

U.S. refiner Citgo Petroleum has bought Venezuelan crude oil for the first time since 2019, when it severed ties with its parent, state-run oil firm Petroleos de Venezuela, two sources familiar with the matter told Reuters on Wednesday.

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

(Reporting by Siyi Liu in Singapore; Editing by Shailesh Kuber)

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

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