Abu Dhabi’s Murban useful in hedging oil trade to Asia, IEA says

Abu Dhabi’s Murban useful in hedging oil trade to Asia, IEA says

Abu Dhabi's Murban crude grade, which began trading on March 29, could serve as a "hedge" for similar Gulf and other crudes traded into Asia, the International Energy Agency said on Wednesday.

Murban, a premium grade, could be used to hedge deals in grades linked with West Texas Intermediate as well as West African and North Sea grades that are priced in Brent, the international marker, the report said.WTI is a benchmark tracking domestic crude grades in the US.



Murban closely matches the light, sweet properties of Brent, under which two-thirds of the world's oil is traded.

Currently, crude grades sourced from