
Middle East Crude-Benchmarks steady after previous drop as market eyes spot demand

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Middle East crude benchmarks, including Oman and Murban, saw a slight increase in spot premiums after a previous drop due to ample supplies, while Dubai remained unchanged. The market is evaluating spot trade demand, highlighted by a deal between CNOOC and Reliance. Cash Dubai's premium to swaps stayed at 68 cents a barrel. Additionally, China's crude imports were strong in October, with record shipments from Russia, UAE, and Kuwait. TotalEnergies and Chevron are leading in the bid for a stake in Galp's Mopane discovery in Namibia.

