Mideast Gulf sellers raise heavy prices

摘要

1. Saudi Arabia, Iran and Kuwait all raised the official prices for their heavier crudes to the Asia-Pacific market, influenced by strong fuel oil margins and because of the prospect of lower supplies from Iran. But they reduced their official prices for their lighter crudes to the region, a reflection of weakening gasoline and naphtha margins. The January Brent-Dubai EFS, or the premium of Ice Brent futures to Dubai swaps, fell to $1.57/bl on 8 November, indicating the relative strength of medium sour Dubai.