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Qatar raises March al-Shaheen term price to 2-month high after tender sale – sources

Qatar Energy has sold three al-Shaheen crude cargoes for March-loading at the highest premiums in two months, in line with the rebound seen for Middle East grades this month, trade sources said on Wednesday.

The producer sold the cargoes at an average premium of $2.67 a barrel to Dubai quotes and set the term price at a premium of $2.78 a barrel, they said, more than $1 a barrel higher than levels seen in the previous month.

Buyers were likely Japan’s Eneos and India’s Reliance Industries Ltd, the traders said.

Spot premiums for Middle East crude rebounded this month as they became more attractive to Asian buyers after the Dubai benchmark prices weakened against Brent.

Last month, February-loading al-Shaheen crude premiums dropped to three-month lows.
Source: Reuters (Reporting by Florence Tan; Editing by Sherry Jacob-Phillips)

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