Middle East Crude-Murban Nov premium jumps above $1

Reuters

SINGAPORE, Sept 9 (Reuters) - November Murban spot premiumjumped to more $1 a barrel for a second straight month as Asianrefiners snapped up Dubai-linked crude from the Middle East andshunned comparatively more expensive grades priced on Brent.

Strong demand for distillates-rich crude from North Asianrefiners, especially Japan, also supported November prices.

Brent's premium to Dubai crude rose to above $7a barrel, the highest in nearly two years, and is likely tocontinue to curb Asia's demand for Atlantic Basin grades.

ExxonMobil sold November Murban via a tender at a premium ofmore than $1 a barrel last week, traders said. The buyer was notimmediately known.

Qatar Marine also rose as sellers aimed for higher premiumsafter deals at 40-50 cents a barrel above its OSP last week,they said.

*TRADE

- Phibro sold five Dubai partials to Mercuria at $110.70 abarrel.

*OSPs

- Yemen has set the official selling price of its Masilacrude for loading in November at a premium of $2.17 a barrel todated Brent, up $1.01 from the previous month, its governmentsaid on Sunday.

Unipec UK bought the entire 2 million barrels of Masilacrude offered by Yemen, the government said in a statement.

*DME OMAN

- DME Oman for November settled at $111.06, up 32 cents, at0830 GMT. This puts DME Oman at $3.45 a barrel above Dubaiswaps, up from a premium of $3.18 in the previous session.

*MARKET NEWS

- Chinese President Xi Jinping struck a deal with Kazakhstanon Saturday giving China a stake in its giant Kashagan oilproject, a highlight of his tour of Central Asia to securehydrocarbons for the world's largest energy consumer.

- The United States has placed sanctions on six individualsand four businesses for helping the government of Iran concealits involvement in global oil deals, the U.S. Treasury said.

- Output from Iran's Forouzan offshore oilfield is set tomore than double to 100,000 barrels per day (bpd) by next March,after two additional production platforms are installed, oilministry news service Shana said.

For crude prices, oil product cracks and refining margins,please click on the RICs below.

Brent

Dubai

DME Oman

Brent/Dubai EFS

PRODUCT CRACKS

Fuel oil crack

Gasoil crack

Naphtha crack

Complex refining margins

Rates

View Comments (0)