Middle East crude-oil grades for sale to Asia rose on speculation demand will grow after declines in the past few days pushed prices down more than an estimated slowdown in consumption. Murban, produced by Abu Dhabi National Oil Co., advanced 0.5 percent to $105.28 a barrel, according to data compiled by Bloomberg News. Prices had tumbled 11 percent in the past six trading days. Qatar Marine climbed 49 cents to $101.03 a barrel, Bloomberg data show. Oil demand will grow 1.1 million barrels a day this year and 1.9 million barrels a day in 2012, Helen Henton, a London- based analyst at Standard Chartered Plc, said in a report dated yesterday. The bank estimates the Organization of Petroleum Exporting Countries will need to produce 31 million barrels a day to balance the market in this quarter, or 1 million barrels a day higher than current production. Oman crude for immediate loading climbed 0.5 percent to $101.61 a barrel, Bloomberg data showed. Dubai oil for delivery in October rose 49 cents to $101.19. Murban’s premium to its benchmark price gained 7 cents to 13 cents. Oman futures for October delivery fell $1.74, or 1.7 percent, to $100.72 a barrel on the Dubai Mercantile Exchange at 6:05 p.m. Singapore time, with 931 contracts traded. The settlement price was $102.12 at 12:30 p.m. in Dubai. The September Brent-Dubai exchange for swaps, which measures the European marker contract against the Persian Gulf grade, rose 5 percent to $5.09 a barrel, according to data from PVM Oil Associates. The exchange for swaps for October climbed 26 cents to $4.76. To contact the reporter on this story: Pratish Narayanan in Mumbai at pnarayanan9@bloomberg.net To contact the editor responsible for this story: Jane, Ching Shen Lee at jalee@bloomberg.net

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