Energy
Posted By OrePulse
Published: 18 Dec, 2024 08:43
Qatar raises Feb al-Shaheen oil term price, sources say
QatarEnergy has raised the term price for al-Shaheen crude
oil loading in February, setting it at a premium of $1.05 per barrel above
Dubai quotes, according to trade sources on Wednesday.
The term price has increased by $0.32 per barrel, compared with the premium of $0.73 per barrel set for January-loading cargoes.
The higher term price was in line with increases seen in Middle East benchmarks over the past two weeks.
Spot premium of Dubai has averaged $0.90 a barrel so far this month, compared with its November average of $0.72 a barrel.
Qatar sold two al-Shaheen cargoes to Glencore (GLEN.L), opens new tab and one cargo to Totsa at a premium of $0.9-1.05 a barrel above Dubai prices, the sources said.
Qatar has also awarded a Qatar Marine crude cargo at a premium of $0.3 a barrel above Dubai prices and a Qatar Land crude cargo at a premium of $0.1 a barrel above Dubai prices to PTT, according to the sources.
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