Fears of a coming oversupply are weakening the Brent futures structure, while increased appetite for Middle Eastern crude is supporting the key benchmark prices that the top oil-producing region uses for pricing of barrels loading for Asia. As a result, Brent Crude prices slipped on Monday into a rare, albeit tiny, discount to the Dubai benchmark prices. Brent was trading $0.03 per barrel below the Dubai oil price, the benchmark against which the Middle Eastern producers price their oil loading for their top market, Asia. The discount of…
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