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Russia’s Surgut sells April ESPO crude at lower premiums

Russia’s Surgutneftegaz has sold two ESPO crude cargoes loading in April at slightly lower premiums than the previous month on the back of a stronger Dubai benchmark, trade sources said on Tuesday.

* The producer sold the cargoes loading on March 31-April 5 and April 3-8 at premiums of $2.60-$2.75 a barrel to Dubai quotes, they said

* A Japanese refiner and a western trading company may have purchased the cargoes, the sources said

* Dubai strengthened against Brent this month, narrowing the gap between the two benchmarks DUB-EFS-1M

* Surgut last sold March-loading ESPO at premiums of $2.70-$2.90
Source: Reuters (Reporting by Florence Tan, Editing by Sherry Jacob-Phillips)

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