U.S. Crude Trading At Big Discount To Dubai Oil ...Middle East

Heavy trading in Dubai oil has lifted its premium to WTI crude to its highest since late March, a development that could make U.S. crude even more competitive in Asia.  More traders have turned to Dubai after Persian Gulf producers such as Saudi Arabia hiked prices and shipping rates also climbed. Bloomberg has reported that Dubai swaps were trading at a premium of $3.65 a barrel above U.S. benchmark West Texas Intermediate futures in Singapore on Wednesday, with the spread usually smaller than $3. Increased trading of partials--smaller…

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