Refiners Pay Soaring Premiums for Diesel-Rich Oil from Nigeria
- Egina crude for July loading offered at Dated Brent +$13/Bbl
- Prices heat up as oil refiners scramble for world’s top crudes
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For a sense of how competition for crude is intensifying among the world’s oil refiners, just look at the soaring premiums for one of Nigeria’s diesel-rich grades.
Egina crude is being offered by China’s biggest offshore driller CNOOC at a $13 a barrel premium to London’s Dated Brent price, said traders who asked not to be identified. A prior trade took place at about $10 a barrel above the same marker, they said. Both shipments are due to be loaded next month, the people said.