Crude MOC: Cash Dubai eases on weaker demand cues
Benchmark cash Dubai eased at the start of the week Jan. 18 as demand cues for March-loading trade continued to stay weak.
S&P Global Platts assessed March cash Dubai at a premium of 31 cents/b to the same-month Dubai futures, down 4 cents/b from the close on Jan. 15.
Similarly, March cash Oman was also valued at a premium of 31 cents/b to front-month Dubai futures, down 4 cents/b from the previous day.
Market participants had their eyes on the result of the Indian Oil Corp. tender, which closed Jan. 15. The refiner was heard to have bought four million barrels of Bonny, Forcados and Bonga March-loading crude, as well as one million barrels of Das Blend crude.