(Bloomberg) — Once a highly sought-after grade of oil from the Middle East, Abu Dhabi’s Murban is falling out of favor as the world’s top refiners seek out other types of crude ahead of a historic ship-fuel overhaul.Murban is typically prized for its light and middle distillate yield but the grade’s price has dropped as Asian refiners focus on purchasing oil that produces more low-sulfur, high-viscosity marine fuels due to IMO 2020. Buying interest has also dimmed as rising supertanker rates made supplies from Russia’s Far East and the Asia-Pacific more attractive.Ships are mandated to use fuels with 0.5% sulfur …read more
Source:: Yahoo Finance
