Thursday, 9 February 2012 at 15:01, Reuters, Singapore
Front-month Brent/Dubai Exchange of Futures for Swaps for March rose 27 cents to $3.39 a barrel. (REUTERS)
Middle East crude levels were valued at slight premiums on Thursday, traders said, but no deals were heard transacted.
Abu Dhabi's April loading Murban crude cargoes, a benchmark grade, was heard at levels at a premium of up to 5 cents to the Adnoc official selling prices (OSP).
Offers were heard mainly at premiums of around 5 cents to the OSP, but bids were seen at parity or slight discounts, traders said.
Front-month Brent/Dubai Exchange of Futures for Swaps (EFS) for March rose 27 cents to $3.39 a barrel.
April Oman traded on the DME was valued at a premium of $1.82 cents to Dubai swap quotes at 0830 GMT, using the settlement price for DME futures, the ICE one-minute marker for Singapore and the Brent-Dubai EFS as calculated by Reuters.
The complex refining margin for Dubai in Singapore was $8.80 per barrel, down from an average of the last five days of $10.13, Reuters data show. Over the last year, the average margin has been $8.14 cents per barrel.
Fuel oil's March crack was firmer at a discount of $2.83 a barrel to Dubai crude. Gasoil's March crack eased 57 cents to a premium of $18.19 a barrel to Dubai crude.
Naphtha's front-month crack strengthened 64 cents to a discount of $6.03 a barrel to Brent crude.
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