Middle East oil grades for sale to Asia fell against their benchmark prices on speculation that demand will drop along with refining profits. Murban, produced by Abu Dhabi National Oil Co., for loading in November fell 10 cents to a premium of 28 cents a barrel to its official selling price, according to data compiled by Bloomberg. The price earlier this month reached 63 cents over its official level, the most since May. Qatar Land slipped 10 cents to a premium of 17 cents a barrel, Bloomberg data showed. A decline in processing margins has limited demand for crude that helped push up premiums earlier in September. Gasoil’s premium to Dubai crude, a measure of profit, fell today to $15.52 a barrel, compared with $17.72 a month ago, according to London-based broker PVM Oil Associates Ltd. Oman crude for immediate loading gained $3.57, or 3.6 percent, to $103.85 a barrel, Bloomberg data showed. Dubai oil for loading in November increased 3.6 percent to $103.47. Murban for spot delivery climbed 3.3 percent to $107.78. Oman futures for November delivery rose $2.35 to $104.50 a barrel on the Dubai Mercantile Exchange at 5:48 p.m. Singapore time, with 1,392 contracts traded. The settlement price was $104.39 at 12:30 p.m. in Dubai. The November Brent-Dubai exchange for swaps, which measures the European marker contract against the Persian Gulf grade, rose 2 cents to $4.35 a barrel, according to data from PVM. The exchange for swaps for December fell 1 cent to $3.40. To contact the reporter on this story: Pratish Narayanan in Mumbai at pnarayanan9@bloomberg.net To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net

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