Middle East crude benchmark Dubai, for the fourth consecutive day, experienced a surge, with three more cargoes being delivered on the Platts window.
PTT, representing Thai refiner IRPC, purchased a pair of Murban cargoes from Glencore and BP at premiums of $1.20-$1.30 a barrel to Dubai quotes, traders disclosed.
Rongsheng Petrochemical, a Chinese refiner, will end a tender on Thursday to procure crude that will be loaded in April or delivered between April 15 and May 31.
PV Oil was able to sell its April loading cargoes at higher premiums than in the former month, according to traders.
Exxon Mobil purchased all three Su Tu Den cargoes for premiums above $7 a barrel to dated Brent, while domestic refiner Binh Son acquired the Chim Sao cargo at a premium approaching $8 per barrel.
Furthermore, Cash Dubai’s premium to swaps ascended 8 cents reaching $1.16 a barrel.
Trafigura will receive an Oman cargo from Koch, while Mitsui will get an April-loading Upper Zakum crude cargo from Reliance and an Oman cargo from Gunvor.
Notably, Australian gas producer Santos (ASX:STO) reported a worse-than-anticipated 42% plummet in annual profit due to weaker gas prices and production.
The company also suggested that it is seeking to enhance its valuation after its merger discussions with larger competitor Woodside fell through.
Santos is a leading gas producing company in Australia.