Middle East Crude-Benchmarks mixed; Australian grades fetch high premiums
Middle East crude benchmarks Oman and Dubai were mixed on Thursday, with Oman differential plunging in volatile trading as the March-loading cycle approaches its end.
Spot premiums for March-loading Australian heavy sweet crude rose this week, with Pyrenees at its highest in 10 months, supported by higher prices for low-sulphur shipping fuel, trade sources said.
BHP has sold a Pyrenees crude cargo to Vitol at a premium of more than $11 a barrel to dated Brent, while Woodside sold a Vincent crude cargo at a slightly higher premium than that for Pyrenees to Shell, the sources said.