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Murban Crude Jumps to 4-Month High as ADNOC Curbs Supply to Asia
The price of Murban Crude, the flagship grade of the United Arab Emirates, surged to a four-month high this week, amid reports that the UAE’s national oil company ADNOC will reduce its immediate crude shipments to Asia.
AI Summary
Murban crude, the United Arab Emirates’ flagship grade, rose to its highest level in four months after reports that ADNOC plans to cut its crude allocations for August and September for certain customers. The price increase reflects market reaction to the anticipated supply reduction.
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