Mideast Gulf grades make gains

摘要

Lower Iranian imports and firming north Asian demand ahead of winter have boosted spot values for Mideast Gulf crude cargoes. November-loading Mideast Gulf crude cargoes have firmed this month. Qatari medium sour Al-Shaheen has risen to a premium of around $1.55/bl to benchmark Dubai, the highest since mid-December 2013 (see graph). Light sour Abu Dhabi Murban has traded at premiums of 50￠/bl to the Adnoc official selling price, an 11-month high, in part because of a drop in the latest Adnoc official price. And heavy sour Banoco Arab Medium has traded at an 11-month-high premium of 25- 30￠/bl to the official formula price for Saudi Arab Medium.