Platts to set premium for Murban crude in Mideast benchmarks from July 1
SINGAPORE, April 21, 2016
Global oil pricing agency Platts said it will set a quality premium for Murban crude deliveries during its daily assessment process of the Dubai and Oman benchmarks for Middle East oil from July 1.
"The quality premium for July will be announced on July 1 and will be effective for trade in September-loading cargoes during the Platts Dubai Market on Close (MoC) process through the month," the agency said in a subscriber note on its website.
The Murban quality premium would be 60 per cent of the net price difference between Platts front-month cash Murban assessment and Platts front-month cash Oman assessment during the full month prior to announcement.
The move could lead to the first deliveries of the Abu Dhabi flagship crude during the MoC process. Reuters
