Average Dubai crude oil price rises in March to 5-month high

SINGAPORE: Dubai crude, as quoted by price-reporting agency S&P Global Platts, rose in March to an average of $66.934 a barrel, the highest in five months, a trader who participates in the market said on Monday.

The monthly averages for March for Dubai and Oman as quoted by Platts are indicated in the table. Middle East producers set their monthly official selling prices (OSPs) based on these averages.

Saudi Aramco changed the benchmark for setting its official selling prices to Asia starting from October to the average ofPlatts Dubai and DME Oman crude futures.

The average reference price for March-loading Saudi crude OSPs to Asia is set at $66.957 a barrel, based partly on an average May DME Oman crude futures at $66.98.