Brent's premium to Dubai crude falls to lowest in more than 8 years

SINGAPORE: Brent crude's premium to Dubai crude fell to the lowest in more than eight years as the Middle East benchmark strengthened against the European sweet oil market, Refinitiv data showed on Tuesday

Brent's Exchange Futures for Swaps (EFS) to Dubai touched a low of 28 cents a barrel in Tuesday's trade before settling at 36 cents a barrel at Asia's market close, the lowest since June 2010, according to the data and a trader.

The narrow spread is expected to boost Asia's demand for crudes produced in the Atlantic Basin that are priced off Brent.