Looks like some Australian producers are able to fetch a premium on crude, hitting the $70 a barrel mark.
Australian Barrow Island and Cooper Basin crudes are now close to $70 a barrel currently, based on premiums for grades of about $1.50 a barrel to Malaysian benchmark grade Kimanis, said the traders. Kimanis itself is priced at a premium of about $4.40 a barrel to dated Brent, which was assessed at $64.07 a barrel on Monday by price reporting agency S&P Global Platts.
“Prices of domestic Australian grades are even higher than MCO (Malaysian Crude Oil),” an Asian trader said. “That would make them the most expensive crudes in the world.”
http://www.reuters.com/article/us-a...ome-as-asian-premium-bites-idUSKBN1D7152?il=0
Oil at $70/barrel already a reality for some
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