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RTRS:Middle East Crude-April Murban to trade at premiums next week
 
SINGAPORE, Feb 10 (Reuters) - Abu Dhabi National Oil
Company's (ADNOCs) benchmark grade, Murban, is expected to start
trading at slight premiums next week on strengthening gas oil
premiums, traders said.
No deals were heard transacted for April-loading cargoes,
but traders expect to see transactions at a premium of 3 to 5
cents to the ADNOC official selling price (OSP).
"There is a bit of a split in the market for Murban price
ideas at the moment, one side sees an oversupply of light
grades, and then there are those who feel that the strength of
gas oil is firmly supporting these barrels," a Singapore-based
trader said.

* EFS
- Front-month Brent/Dubai Exchange of Futures for Swaps
(EFS) for March DUB-EFS-1M eased 34 cents to $3.05 a barrel.


* OMAN ASSESSMENTS
- April Oman traded on the DME was valued at a premium of
$1.91 cents to Dubai swap quotes at 0830 GMT, using the
settlement price for DME futures, the ICE one-minute marker for
Singapore and the Brent-Dubai EFS as calculated by Reuters.

* MARKET NEWS
- Global oil demand will grow by less than 1 percent in
2012, the International Energy Agency (IEA) said on Friday,
cutting its oil growth demand forecast for a sixth consecutive
month, citing a weak global economy.
- Asian refiners are seeking additional crude from top
exporter Saudi Arabia in a scramble to secure supplies to feed
rising energy demand, as depending on Iran becomes increasingly
difficult due to tighter sanctions.
- China's Sinopec Corp 0386.HK has agreed to increase Saudi
crude oil imports under a 2012 term contract from last year's
800,000 barrels per day, Chinese industry officials told
Reuters.
- Iran's seaborne trade is withering as sanctions are
stepped up against the Islamic Republic, freezing bank finance
and deterring many international trade and shipping companies
from getting involved in deals, industry sources say.


* REFINERY MARGINS
- The complex refining margin for Dubai in Singapore was
$9.11 per barrel, down from an average of the last five days of
$10.13, Reuters data show. Over the last year, the average
margin has been $8.14 cents per barrel.

* CRACK SPREADS
- Fuel oil's March crack was weaker at a discount of $3.05 a
barrel to Dubai crude.
- Gasoil's March crack eased 48 cents to a premium of $17.71
a barrel to Dubai crude.
- Naphtha's front-month crack strengthened 52 cents to a
discount of $5.51 a barrel to Brent crude.

* OUTRIGHT PRICES
- March ICE Brent was at $117.79 a barrel by 0830
GMT, up 20 cents from the previous session.
- April Oman was trading at $116.65 by 0830 GMT, up
63 cents from the previous session.

Source