T + T – Normal size
Qatar Energy has set the price of its Al Shaheen crude for November loading at the highest level in five months, trade sources said on Thursday, amid strong demand for Middle East crude in Asia ahead of peak winter consumption.
The price for November loading was set at a premium of $2.09 a barrel to Dubai quotes, up $1.22 a barrel from the previous month.
The price was set after Qatar Energy sold two cargoes through a tender.
Aramco Trading bought a cargo for loading on Nov. 1-2 at a premium of $2.10-$2.20 a barrel to Dubai prices, while Unipec bought a cargo for loading on Nov. 27-28 at a premium of $1.90-$2 a barrel, the sources said.
Separately, Qatar Energy sold one cargo of land crude to Japanese refiner Idemitsu at a premium of $1.10 to $1.20 a barrel to Dubai prices, and also gave a cargo of marine crude to Ineos at a premium of $1 a barrel, the sources said.
Each shipment is 500,000 barrels.
