Chemical Updates

Middle East Sour Crude Daily Market Analysis / ADNOC offers Upper Zakum, Das and Umm Lulu in eighth tender / Iraq’s SOMO hikes September, Asia OSP differentials by $1.50-$2.50/b / October ESPO Blend shipments almost fully cleared

Aug 12, 2026

Fresh producer spot offers and September official selling prices emerged in the Middle East crude market Aug. 11. UAE’s Abu Dhabi National Oil Co. has issued its eighth tender since the start of the war, offering Upper Zakum, Das Blend, and Umm Lulu crudes for loading from various locations or CFR delivery over October- November, closing Aug. 13 with next-day validity. Iraq’s SOMO in an Aug. 10 notice raised its September official selling price differentials for Asia by $1.50-$2.50/b, earlier reported. For Asian buyers, SOMO set the differential for September-loading Basrah Medium at a discount of $4/b to the average of Oman/Dubai assessment for that month, while September Basrah Heavy was set at minus $7.30/b to the same marker. Supply concerns returned to the fore in the broader market amid...

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