Fujairah bunker and fuel trade flows have relevance to multiple product assessments published by S&P Global Energy, as seen to the right. With deep financial markets available for hedging using and the following year Dubai and Oman assessments moved from New York to Singapore.  

The five deliverable grades into Platts Dubai are Dubai, Qatar’s Al Shaheen, Oman and the UAE’s Murban and Upper Zakum. The quality premium for Murban was introduced in June 2016. Murban is a light sweet crude that accounts for around half of UAE crude production. Murban volume up to 2018 was the destination-free amount Platts Dubai as a settlement, Dubai’s influence as the world’s leading reference price for all medium, sour crude oil has grown through the years.

The Platts Dubai/Oman crude benchmarks started in 1984 when Platts began assessing the Dubai crude daily in New York. Oman was added as an alternative delivery grade in November 2001 and now destination restrictions are removed. The Abu Dhabi-based ICE Futures Abu Dhabi, or IFAD, was created in March 2021 to trade Murban futures contracts. IFAD Murban futures contracts are physically delivered on an FOB Fujairah basis.