Wednesday, Apr 04, 2012
(Adds details of Murban's premium to Dubai and other OSP details from second paragraph onward and in table)
By Gurdeep Singh
Of DOW JONES
SINGAPORE (Dow Jones)--Abu Dhabi National Oil Co. has posted the official selling price of its flagship Murban crude oil at US$127 a barrel retroactively for March term supply, a $6.55-a-barrel increase from the previous month, according to an official notice from the United Arab Emirates state-owned company Wednesday.
This brings Murban's closely watched premium to benchmark Dubai crude to $4.53 a barrel, up 24 cents.
Adnoc raised the OSPs of its three other export grades, mainly light sours, and also raised their premium to Dubai by 24-34 cents.
Adnoc's Murban OSP was largely in line with expectations, reflecting the grade's premium to its OSP last month, although declines in naphtha and middle distillate cracks are likely to weigh on its differentials.
Traders now await Saudi Aramco's OSP announcement, widely expected to be lower for Asian buyers because of a narrower Dubai backwardation and weak product cracks.
Abu Dhabi National Oil Co.'s crude-oil official selling prices, in U.S. dollars a barrel, are as follows:
March February Change
Murban 127.00 120.45 +6.55
Premium to Dubai +4.53 +4.29 +0.24
Lower Zakum 126.60 120.05 +6.55
Premium to Dubai +4.13 +3.89 +0.24
Umm Shaif 126.20 119.65 +6.55
Premium to Dubai +3.73 +3.49 +0.24
Upper Zakum 124.45 117.80 +6.65
Premium to Dubai +1.98 +1.64 +0.34
-By Gurdeep Singh, Dow Jones Newswires; 65-6415 4064; gurdeep.singh@dowjones.com
(END) Dow Jones Newswires
04-04-12 0641GMT
