Transportation
Murban crude oil prices are at a two-month high due to strong demand
The spot premiums for Murban oil produced in the United Arab Emirates have reached their highest level in the past two months. This is due to the?strong demand of Asian buyers who are replacing U.S. supplies now that the arbitrage has closed. Indian refiners also use Murban as a substitute for Russian oil. This is what drives the price of Abu Dhabi's flagship Light Sour Grade despite abundant supply. Data showed that the spot premium for Murban March loading was $2.38 per barley to Dubai quotations on Tuesday. It had reached $2.53 per barrel last Wednesday, its highest level since...