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Markets

Brent crude's premium to Dubai hits over 2-month high

Published April 8, 2016 Updated April 8, 2016 03:29pm
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By Shoaib Ur Rehman
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imageSINGAPORE: Brent's premium to Dubai crude hit the highest in more than two months after the European marker strengthened ahead of oilfield maintenances that could tighten supplies, trade sources said on Friday.

Brent-Dubai Exchange of Futures for Swaps (EFS) for June was valued at $3.65 a barrel, the sources said, up 28 cents from Thursday's close.

This is the widest since Jan. 14, according to Reuters data.

A wider spread makes Dubai-linked grades more attractive than those priced on Brent.

It also discourages the flow of Brent-linked crude from the Atlantic Basin to Asia.

Copyright Reuters, 2016

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