Crude oil markets started the Dec. 6-10 trading week higher, with optimism for crude’s near-term outlook building after the release of Saudi Aramco’s January crude official selling prices, which analysts said demonstrated confidence in the market. ICE February Brent crude futures stood at $71.47/b at 0300 GMT Dec. 6, up $1.59/b (2.28%) from the Dec. .
Spot premiums for January-loading Russian grades are suffering from a steep decline from earlier in the month, with OVL’s second Sokol tender being the latest causality in the fast falling market. India’s ONGC Videsh Ltd, or OVL, was heard to have awarded its second tender of the month offering a 700,000-barrels of Sokol crude loading .
Crude oil markets started the Nov. 1-5 trading week on a softer note, with the market keeping an eye on OPEC+’s Nov. 4 meeting for fresh cues on supply. January Brent crude futures stood at $83.40/b at 0300 GMT Nov. 1, down 32 cents/b (0.38%) from the Oct. 29 settlement. Middle East crude Activity .