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2025-08-01 18:03:35
[Oil Market Fluctuations: Why is Middle Eastern Crude Oil Bucking the Trend?] ⑴ Despite record-high US crude oil production, spot premiums for Middle Eastern benchmark crudes remain strong. ⑵ Benchmarks such as Oman, Dubai, and Murban are trading at premiums exceeding $3 per barrel. ⑶ This trend is primarily driven by concerns about Russian oil sanctions and strong demand from India. ⑷ Traders revealed that Indian refiners have pre-ordered some crude oil from the Middle East and Africa to mitigate the risk of supply disruptions from future sanctions. ⑸ In addition, Pakistani refiner Cnergyico also imported 1 million barrels of crude oil from the US for the first time, demonstrating shifts in global crude oil trade flows. ⑹ This crude oil is expected to arrive in the second half of October. If commercially viable, Pakistan may import at least one cargo per month going forward. ⑺ Market trading data shows that the cash Dubai premium to swaps is $3.05 per barrel. ⑻ Despite other factors, geopolitical concerns and shifts in buyer structural demand are becoming key drivers of oil prices.
