ADNOC raised April crude prices retroactively to the highest level in more than two years, reflecting a gain in benchmark futures last month, according to newswire Bloomberg.
An e-mailed list seen by Bloomberg alleges the UAE’s national oil company notched up its prices by 7 percent, to the highest levels since July 2008.
ADNOC set the price for April shipments of Murban crude, its largest export grade, at $120.70 a barrel, according to the price list. Lower Zakum crude also rose, by 7.2 percent, to the same level as Murban and from an identical March price.
The ADNOC website is today still displaying March sales prices of $112.55.
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