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Oman Crude Oil Market Report
Mon 07 Jan 2013 13:42:09 CT
Related Keywords: Energy
Related Keywords: Energy
March Oman crude oil trended lower on the session and formed an inside day trading range in the process. Some traders indicated that the Asian crude oil market was supported by an uptick in demand coming from recent cold spells in Japan and China. The Oman crude oil market might have also been reacting to the latest official selling prices out of Saudi Arabia that raised prices for Asian customers. Some traders said that Saudi Arabia raised their prices because of better Asian fuel oil margins and a backwardated pricing structure seen in the Dubai market. In fact, the spread differential between Dubai and the Dubai one-month swap has widened out nearly $0.15 since its late December trough of $0.31.
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*Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.
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