Latest news with #Brent-DubaiExchangeofFuturesforSwaps
Reuters
19-03-2025
- Business
- Reuters
Brent crude flips to discount against Dubai, first time since Nov 2023, data shows
SINGAPORE, March 19 (Reuters) - Brent crude futures flipped to a discount against Dubai swaps on Wednesday, the first time since November 2023, LSEG data showed, underscoring the strength of Middle East sour oil versus the global sweet crude benchmark. The Brent-Dubai Exchange of Futures for Swaps (EFS) was assessed at minus 2 cents a barrel at Wednesday's market close at 0430 GMT, LSEG data showed. The discount has since widened further to 14 cents a barrel, two trade sources said. Sweet, or low-sulphur oil, is typically more expensive than those with higher sulphur content as they are easier to process. Brent's weakness against Dubai has opened up arbitrage opportunities for sweet crude produced in the Atlantic Basin to head to Asia, another trader said. The price spreads between dated Brent and Dubai are also in discounts for April to June contracts, he added.
Zawya
19-03-2025
- Business
- Zawya
Brent crude flips to discount against Dubai, first time since Nov 2023, LSEG data shows
OIL The Brent-Dubai Exchange of Futures for Swaps (EFS) was assessed at minus 2 cents a barrel at Wednesday's market close at 0430 GMT, LSEG data showed PHOTO Brent crude futures flipped to a discount against Dubai swaps on Wednesday, the first time since November 2023, LSEG data showed. The Brent-Dubai Exchange of Futures for Swaps (EFS) was assessed at minus 2 cents a barrel at Wednesday's market close at 0430 GMT, LSEG data showed. The discount has since widened further to 14 cents a barrel, two trade sources said. (Reporting by Florence Tan; Editing by Andrew Heavens) Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an 'as is' and 'as available' basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.
