Saudi Gazette - Asia snaps Dubai-priced Mideast, Russian crudes:
"Asian refiners are snapping up Middle Eastern and Russian crudes priced on the comparatively cheaper Dubai marker, shunning Brent-linked Atlantic Basin grades that have become too expensive as the European benchmark strengthens.
Brent’s premium to Dubai rose above $5 a barrel this week, the highest since March, and that combined with strong Asian demand has pushed premiums for Russian, United Arab Emirates and Qatari grades to multi-month highs.
Seasonal demand and a recovery in margins, or profits from processing a barrel of crude into products, are also making Asian refiners ramp up runs, amplifying their call for crude."
'via Blog this'
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