Chemical Updates

Middle East Sour Crude Daily Market Analysis / At least 14 million barrels awarded in recent UAE sell tender / Cash Murban differential jumps nearly $8/b on day / Fresh attacks reported on shipping in Strait of Hormuz

Aug 18, 2026

Middle East crude traders were digesting the results of a recently awarded UAE crude sell tender Aug. 17, through which at least 14 million barrels of oil were reported to be sold. Initial results indicated that around 6 million barrels of Das Blend were awarded in the tender, with 2 million barrels each sold to a Japanese and South Korean refiner and 1 million barrels to an Indian refiner. Prices were heard at premiums of around $9.50-$10.50/b to Dubai on a delivered basis to the Far East. A second Indian refiner was heard to have taken a co-load 2 million barrel shipment of Das and Upper Zakum, with the price heard at a premium in the $5s-$6s/b to Dubai on a delivered basis. Another 5 million barrels of Upper Zakum...

Exclusive market movement data, shipping lineups, demand signals and pricing rationale continue in full report.

Unlock complete article access with a paid account.

Continue Reading With Membership

This is a preview. Login and activate a paid plan to read the complete article.