QatarEnergy has increased the term price for al-Shaheen crude oil loading in June, setting it at a premium of $1.76 per barrel above Dubai quotes, trade sources said on Wednesday.

The term price marked a first-time increase in three months and a rise from the premium of $1.29 per barrel set for May-loading cargoes.

The rise in premiums followed similar increases in Middle East crude benchmarks Dubai and Oman this month amid more buying interests after oil prices dropped.

The producer sold two cargoes to Vitol at a premium of $1.68 to $1.75 a barrel above Dubai quotes, one cargo to ExxonMobil XOM at a premium of $1.71 a barrel and one to Trafigura at around $1.70 a barrel, they said.

The cargoes are to load on June 1-2, 14-15, 26-27 and 27-28.

Separately, QatarEnergy also sold a Qatar Land crude cargo to Shell and a Qatar Marine cargo to Unipec, the sources said.

The companies typically do not comment on their commercial deals.
Source: Reuters