Middle East Crude-Benchmarks slip as buying interest cools

Middle East Crude-Benchmarks slip as buying interest cools

SINGAPORE- Middle East crude benchmarks Oman and Dubai slipped on Monday as buying interest cooled, with most Asian refiners having completed their spot purchases.Global oil refiners reeling from months of lackluster demand and an abundance of inventories are cutting fuel production into the autumn because the recovery in demand from the impact of coronavirus has stalled, according to executives, refinery workers and industry analysts. In tenders, Thailand's IRPC bought only one cargo of Banoco Arab Medium crude for loading in November at a small discount to its official selling price (OSP), traders said.ASIA-PACIFIC CRUDE: Australian Pyrenees crude premium stayed weak in line with lower low-sulphur fuel oil cracks, traders said. Santos sold a November-loading cargo at more than $5 a barrel to dated Brent, they added.RUSSIAN CRUDE: Russian Sokol's discount narrowed