Middle East Crude-Murban Nov premium jumps above $1
SINGAPORE, Sept 9
SINGAPORE, Sept 9 (Reuters) - November Murban spot premium jumped to more $1 a barrel for a second straight month as Asian refiners snapped up Dubai-linked crude from the Middle East and shunned comparatively more expensive grades priced on Brent.
Strong demand for distillates-rich crude from North Asian refiners, especially Japan, also supported November prices.
Brent's premium to Dubai crude rose to above $7 a barrel, the highest in nearly two years, and is likely to continue to curb Asia's demand for Atlantic Basin grades.
ExxonMobil sold November Murban via a tender at a premium of more than $1 a barrel last week, traders said. The buyer was not immediately known.
Qatar Marine also rose as sellers aimed for higher premiums after deals at 40-50 cents a barrel above its OSP last week, they said.
- Phibro sold five Dubai partials to Mercuria at $110.70 a barrel.
- Yemen has set the official selling price of its Masila crude for loading in November at a premium of $2.17 a barrel to dated Brent, up $1.01 from the previous month, its government said on Sunday.
Unipec UK bought the entire 2 million barrels of Masila crude offered by Yemen, the government said in a statement.
- DME Oman for November settled at $111.06, up 32 cents, at 0830 GMT. This puts DME Oman at $3.45 a barrel above Dubai swaps, up from a premium of $3.18 in the previous session.
- Chinese President Xi Jinping struck a deal with Kazakhstan on Saturday giving China a stake in its giant Kashagan oil project, a highlight of his tour of Central Asia to secure hydrocarbons for the world's largest energy consumer.
- The United States has placed sanctions on six individuals and four businesses for helping the government of Iran conceal its involvement in global oil deals, the U.S. Treasury said.
- Output from Iran's Forouzan offshore oilfield is set to more than double to 100,000 barrels per day (bpd) by next March, after two additional production platforms are installed, oil ministry news service Shana said.
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