Middle East crude premiums fall as supply rises
In short
Middle Eastern crude premiums fell as exports rose in September and October. Dubai's cash premium to swaps dropped to 65 cents a barrel before a small rebound, and Murban exports reached a record 2.4 million barrels per day in September.
What the reporting says
Middle Eastern crude export premiums have declined as exports increased in September and October, with Dubai's cash premium to swaps falling to 65 cents a barrel before recovering slightly. Murban crude exports hit a record 2.4 million barrels per day in September, while Asian refiners reduced buying interest amid cooling margins. The weaker premiums reflect rising competition, including steeper discounts from West African sellers.
Why it matters
Rising Middle Eastern crude exports in September and October pushed spot premiums lower. Dubai’s cash premium to swaps fell to 65 cents a barrel before edging up slightly, while Murban exports reached a record 2.4 million barrels per day in September. Reduced Asian refining demand and tougher West African pricing are adding pressure on regional crude pricing.