Platts Quality Premium for June-loading Murban set at $0.6376/b

The Quality Premium for June-loading Murban crude oil is $0.6376/b, and will be effective for trade in June-loading cargoes during the Platts Market on Close assessment process through April.

The Quality Premium in March for May-loading Murban crude was $0.8745/b.

The Murban QP can be found on Platts Global Alert pages 2210 and 2220, in the Crude Oil Marketwire, and under code AAISV00 in the Platts database.

Effective April 1, 2020, S&P Global Platts has raised the minimum threshold for the quality premium that sellers receive for the nomination and delivery of a cargo of Murban crude oil into a physical convergence of Dubai, Al Shaheen, Upper Zakum or Oman partials during the Platts Market on Close assessment process.

Platts has raised the minimum threshold to 50 cents/b from 25 cents/b for the Murban quality premium, which is set at 60% of the net price difference between Platts front-month cash Murban assessment and Platts front-month cash Oman assessment during the full month prior to announcement.

The higher minimum threshold will mean that a QP of $0.00/b will be announced if 60% of the observed price difference between the Platts Murban and Oman assessments during the prior month is less than 50 cents/b.

The change follows an unprecedented narrowing of the relative value of Murban compared with other grades in the Oman and Dubai baskets.

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