February 1, 2018 / 4:09 AM / 23 days ago

Malaysian Jan crude price rises to three-year high

    SINGAPORE, Feb 1 (Reuters) - The official selling price of a
basket of January-loading Malaysian crude oil grades OSP/MY has
been set at $73.53 a barrel, the highest since January 2015,
Reuters calculations showed on Thursday.
    The January price for flagship Labuan rose $4.99 per barrel
from the previous month.
    Petronas            sets the benchmark based on the spot
differentials to dated Brent for the four grades - Labuan, Miri,
Kikeh and Kimanis.
    The Malaysian crude benchmark mechanism was launched in
January 2014, and updated to include the Kimanis crude grade
starting January 2017.
    
Here are the OSPs for the Malaysian grades:
    
PETRONAS 2017 TERM PRICES (INCLUDES "P" ADJUSTMENT)
           JAN       DEC    NOV
 LABUAN    73.53     68.54  67.12
 MIRI      73.53     68.54  67.12
 KIKEH     73.53     68.54  67.12
 KIMANIS   73.53     68.54  67.12
 TAPIS     75.13     66.94  65.52
 DULANG    73.93     68.14  66.72
 BINTULU   75.13     66.94  65.52
        

 (Reporting by Jessica Jaganathan and Florence Tan; Editing by
Sunil Nair)
  
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