The Quality Premium for June-loading Murban crude oil is $0.00/b and will be effective for trade in June-loading cargoes during the Platts Market on Close assessment process through April.
In March, the quality premium for May-loading Murban crude was also $0.00/b.
Sellers receive the quality premium from the buyer for the nomination and delivery of a cargo of Murban crude into a physical convergence of Dubai, Al Shaheen, Upper Zakum or Oman partials during the MOC process.
The Murban QP is calculated at 60% of the net price difference between the Platts front-month cash Murban assessment and Platts front-month cash Oman assessment during the full month prior to the announcement.
The minimum threshold for the quality premium is set at 50 cents/b, which means that a QP of $0.00/b is announced when 60% of the observed price difference between the Platts Murban and Platts Oman assessments during the prior month is less than 50 cents/b.
In March, this observed price difference averaged 23.8 cents/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.
Platts will consider all comments received and will make comments not marked as confidential available upon request.