<ul>
<li><span><i>First expiry month will be June 2021</i></span></li>
<li><i>ADNOC confirms pricing for Murban will be based on Murban Futures price from June</i></li>
<li><i>Pricing mechanism for ADNOC’s Upper Zakum, Das and Umm Lulu grades will be priced at a differential to Murban Futures price</i></li>
</ul>
Adnoc, ICE prepare to launch new oil futures khaleejtimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from khaleejtimes.com Daily Mail and Mail on Sunday newspapers.
16 hours Biden Administration Studies If EVs Can Enter Biofuel Credit Program 20 hours Big Oil Beats NYC Appeal On Climate Change Lawsuit 22 hours ExxonMobil Set To Outperform As Oil And Gas Prices Climb 24 hours U.S. Calls On Saudi Arabia To Ensure Supply Of Affordable Energy 2 days Shock Of The Week: Poll Reveals U.S. Pipelines Aren’t Actually Unpopular 2 days Volkswagen’s EV-Friendly Name Change Was Bad April Fools’ Joke 2 days Chinese Smartphone Giant Makes $10 Billion Bet On EVs 2 days Libya’s Oil Production Set To Stabilize In 2021 2 days China s Refiners Are An Existential Threat To Regional Competitors 2 days Google, Samsung, BMW And Volvo Support Ban On Deep-sea Mining
Crude MOC: Cash Dubai eases on weaker demand cues
Benchmark cash Dubai eased at the start of the week Jan. 18 as demand cues for March-loading trade continued to stay weak.
S&P Global Platts assessed March cash Dubai at a premium of 31 cents/b to the same-month Dubai futures, down 4 cents/b from the close on Jan. 15.
Similarly, March cash Oman was also valued at a premium of 31 cents/b to front-month Dubai futures, down 4 cents/b from the previous day.
Market participants had their eyes on the result of the Indian Oil Corp. tender, which closed Jan. 15. The refiner was heard to have bought four million barrels of Bonny, Forcados and Bonga March-loading crude, as well as one million barrels of Das Blend crude.
ADNOC says several Japanese firms are mulling using Murban futures to price their oil
Abu Dhabi National Oil Co, the UAE’s biggest energy producer, and ICE Futures Abu Dhabi have signed agreements with several Japanese end-users to explore pricing their oil against the Murban futures contract to be launched on March 29, the national oil producer said Jan. 14.
Cosmo Oil Co., a shareholder in Abu Dhabi Oil Co., and other unnamed Japanese end-users signed the agreements during a virtual meeting, ADNOC said in its statement.
Cosmo Oil couldn’t immediately be reached for comment on the matter.
The UAE is Japan’s second-largest crude supplier after Saudi Arabia and Tokyo has a number of stakes in Abu Dhabi’s oil assets.