Azerbaijan, Baku, April 4 / Trend /
Middle East crude oils fell as producers raised their official prices, increasing concern that demand may decline, Bloomberg reported.
Qatar Land for June loading dropped 7 cents to a premium of 1 cent a barrel to its official selling price for May loading, Bloomberg data showed. Murban, produced by Abu Dhabi National Oil Co., fell 9 cents to a premium of 11 cents a barrel, according to data compiled by Bloomberg.
Abu Dhabi National Oil raised the official selling prices of its crude oil exports in March, the company said in an e- mailed statement today. Murban crude, the emirate's largest export grade, was increased 8.6 percent to $112.55 a barrel, the company, known as Adnoc, said. That's the highest since the August 2008 price of $117.50. Lower Zakum crude rose to the same level and Umm Shaif oil climbed to $112.05 a barrel. Upper Zakum increased 8.4 percent to $108.90 a barrel.
Oman oil for immediate loading increased $1.49, or 1.3 percent, to $112.62 a barrel today, according to Bloomberg data. Dubai for loading in June was up 1.3 percent at $112.19 and Murban crude climbed 1.2 percent to $115.66.
Oman futures for June delivery rose 56 cents to $113.06 a barrel on the Dubai Mercantile Exchange at 7:10 p.m. Singapore time, with 791 contracts traded. The settlement price was set at $112.99 a barrel at 12:30 p.m. Dubai time.
The Brent-Dubai exchange for swaps for May widened 25 cents to $7.28 a barrel, according to data from PVM Oil Associates Ltd., a brokerage. The exchange for swaps for June increased 22 cents to $7.04.