The rising premium of North Sea’s benchmark Brent over Dubai crude is making shipment of Brent-linked oil to Asia more expensive and likely to reduce in the coming months, traders and market sources tell Bloomberg. The Brent premium over Dubai jumped to the highest since December 2019 at over $3 per barrel on Tuesday, according to data from PVM Oil Associates cited by Bloomberg.
The key reason for this is the upcoming heavy maintenance on a number of oilfields in the North Sea, which will reduce the availability of North Sea oil to the market.…Brent-Priced Oil Flows To Asia Set To Slump
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