Middle East Crude-Benchmarks gain; Murban nears two-month high

Reuters
2026.01.20 10:34
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Middle East crude benchmarks rose on Tuesday, with Murban nearing a two-month high due to strong demand from Asian buyers. Oman and Dubai also saw gains, although Dubai remained negative. Oil prices steadied as investors reacted to U.S. tariff threats while positive economic data from China supported prices. Cash Dubai's premium to swaps increased slightly. Additionally, China's fuel oil imports fell in 2025, and Shell plans to withdraw from the al-Omar oilfield. TotalEnergies anticipates lower oil and LNG sales in Q4 2025 but expects stronger downstream results.