Middle East Crude-Dubai, Oman slip for 3rd session

Middle East crude benchmarks Dubai and Oman slipped for a third session on Thursday, as selling interest from PetroChina, Glencore and Reliance on the window outweighed demand.

The benchmarks dropped even as QatarEnergy raised the term price for al-Shaheen crude loading in September to $3.33 a barrel above Dubai quotes, sources said on Thursday, up 85 cents from the previous month and the highest in five months.

The price was set after the producer sold five cargoes loading in the same month to PetroChina, Vitol and Japanese refiner Idemitsu Kosan via its monthly tender, the sources said.

Separately, QatarEnergy also sold one September-loading Qatar Marine and Land crude each to PTT at premiums between $2.20 and $2.30 a barrel above Dubai quotes, they added.

SINGAPORE CASH DEALS

Cash Dubai's premium to swaps fell 33 cents to $2.57 a barrel.

Glencore will deliver a September-loading Upper Zakum crude cargo to Vitol following the deals.

PRICES ($/BBL)

NEWS

U.S. crude oil stockpiles fell last week as exports rose, while gasoline and distillate inventories rose, prompting some concerns about fuel demand, the Energy Information Administration said on Wednesday.

Drone attacks for a third day on oilfields in Iraq's semi-autonomous Kurdistan region have slashed crude output by 140,000 to 150,000 barrels per day, two energy officials said on Wednesday, as infrastructure damage forced multiple shutdowns.

Australia's Santos STO tightened its full-year production forecast on Thursday to account for flood-related disruptions at its Cooper Basin operations, while it reported a more than 2% decline in second-quarter sales revenue.

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