Oman flips back to spot discount to Dubai as Asia's buying interest cools

SINGAPORE: Middle East crude benchmark DME Oman on Wednesday flipped back to a spot discount to Dubai quotes as Asia refiners' buying interests cools while the December-loading trading cycle approaches its end.

The Oman differential fell to a discount of 13 cents a barrel at the Singapore market's close, down from a premium of 20 cents a barrel at Tuesday's close, trade data compiled by Reuters showed.

The Oman differential briefly turned to spot premium over the previous four trading days, supported by demand from Asian refiners including those in China and Japan.