Dec 07 2011 |
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UPDATE: November Qatar Land Crude OSP $113.35/Bbl, +$5.35 On Month -Traders
Wednesday, Dec 07, 2011
(Adds price differential to Dubai, traders' comments, table)
By Gurdeep Singh
Of DOW JONES NEWSWIRES
SINGAPORE (Dow Jones)--State-owned Qatar Petroleum has raised its crude-oil official selling prices retroactively for November term supply, posting Qatar Land at US$113.35 a barrel, traders said Wednesday.
Traders were expecting the sharp increase in Qatari OSPs given the increase in prices by rivals Abu Dhabi National Oil Co. and Saudi Aramco.
The price "almost the same as Adnoc's, although not as high as Saudi's," said a Singapore-based trader, adding that the spot differential level in November provided evidence that Qatar's OSP would rise sharply.
The Qatar Marine OSP for November was posted at $112.10 a barrel, up $5.80 on month, or at a premium of $3.10 to Dubai.
Crude Nov Oct Change
Qatar Land 113.35 108.00 +5.35
Premium to Dubai +4.35
Qatar Marine 112.10 106.30 +5.80
Premium to Dubai +3.10
-By Gurdeep Singh, Dow Jones Newswires; 65-6415 4064; gurdeep.singh@dowjones.com
(END) Dow Jones Newswires
07-12-11 1051GMT
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