Live Updates > Live Update Details
2026-05-29 17:19:10
[Middle East crude oil spot trading is intensifying, with India making multiple purchases of Upper Zakum, Oman, and WTI crudes; Qatar Energy's monthly auction for al-Shaheen crudes reaches 6 vessels] ⑴ Several Indian refineries have recently made intensive purchases: IOC bought Upper Zakum crudes (multiple transactions, including 2 million barrels from Mercury and 1 million barrels from Totsa) and WTI crudes (2 million barrels from Vitol); BPCL bought 1 million barrels from Oman and 500,000 barrels from Upper Zakum (Totsa Dubai + 70-80 cents/barrel); MRPL bought a total of 2 million barrels from Kisanjah and Mostada (Exxon supply). ⑵ In Qatar Energy's April auction, six al-Shaheen crudes, each 5 million barrels, were purchased by Totsa (1 vessel), Reliance (3 vessels), and Shell (2 vessels) at a price of Dubai futures + 87 cents/barrel. Qatar sold 5 million barrels each of land-based and sea-based crude oil to Reliance (Dubai + $1.10) and Eneos respectively. ⑶ India's BPCL signed a long-term contract with Trafigura from April 2026 to March 2027, supplying four shipments of Oman crude oil (75 cents/barrel lower than Dubai price) and one shipment of Basra medium crude oil (40 cents/barrel lower than official selling price) per quarter. ⑷ Thailand's IRPC purchased two shipments of Das crude oil, each 500,000 barrels, supplied by Glencore and Totsa, at Dubai + approximately $1.50. ⑸ Qatar Energy's March shipment tender included four shipments of al-Shaheen crude oil, each 5 million barrels. Totsa purchased one shipment at -32 cents/barrel, and Unipec purchased three shipments at -35 cents/barrel, with a long-term price of -33 cents/barrel.
