Qatar raises June al-Shaheen term price to 6-month high, sources say

QatarEnergy has set the term price for June-loading al-Shaheen crude at the highest premium in six months on robust demand in Asia and tighter supply of medium high-sulphur grades from the Middle East, trade sources said on Thursday.

The term premium for June-loading al-Shaheen crude rose to $2.54 a barrel to Dubai quotes, they said, up from $1.47 a barrel in the previous month.

The price was set after QatarEnergy sold two June-loading cargoes to Petronas and Unipec at premiums of $2.56 and $2.32 a barrel, respectively, in a tender.

Separately, QatarEnergy has sold a June-loading Qatar Marine crude cargo to Chinese refiner Shenghong Petrochemical at $1.60-$1.70 a barrel above Dubai quotes, the sources said.