REUTERS SURVEY: Middle East spot crude has firmed on supply interruptions, and
Saudi Arabia is likely to raise November official selling prices (OSP) to Asia
buyers. Four refinery sources said flagship Arab Light's November OSP could be
up to $3/bbl above the Oman/Dubai average and roughly $5/bbl higher than
October; one source expected OSP to be unchanged. Traders cite elevated Middle
East supply risk after U.S.-Iran tensions pushed Dubai and Oman spot premiums in
September to their highest since late March. Although flows through the Strait
of Hormuz have partly recovered, spot spreads remain noticeably above August
levels.
