Asian Buyers Offer Big Premium for Diesel-Rich Crude From UAE

Some Asian refiners offered to buy Upper Zakum crude from the United Arab Emirates at around $20 a barrel above official prices, as processors scramble for medium-sour grades after the Iran war disrupted supply.

The cargoes were for collection by term buyers at the end of last month, said traders familiar with the matter. May-loading shipments have also attracted a premium to official selling prices, which were set significantly higher than April, they added, asking not to be named due to the sensitivity of the matter.