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June-loading Murban crude trades at premiums as Japan’s demand improves – sources

Spot differentials for June-loading Murban crude has flipped into premiums after Japanese refiner Fuji Oil bought three cargoes, trade sources said.

The refiner bought the cargoes at premiums of about 25 cents a barrel above its OSP – trader.

One of the cargoes was sold by PetroChina, a source said.

Market sentiment for June-loading sour crude improved as demand from Japan is expected to pick up as its refiners ramp up output after seasonal maintenance.

May-loading Murban crude traded at discounts of about 10 cents a barrel to its OSP last month.
Source: Reuters (Reporting by Florence Tan, Editing by Sherry Jacob-Phillips)

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