Oil major Shell has snapped up over 8 million barrels of June-loading crude oil grades from the Middle East and Russia and has resold some of the cargoes in Asia, taking advantage of the strong Asian demand, Reuters reported on Friday, citing five trading sources. Wider Brent premium over the Middle Eastern benchmark Dubai this month has made Atlantic crude oil supplies more expensive than the Middle Eastern and Russian supplies, which are priced off the Dubai benchmark. According to two of Reuters’ sources directly involved in the trades, Shell has bought six cargoes of Qatar Marine, four cargoes of Upper Zakum, three cargoes of Russian Sokol, and at least one Banoco Arab Medium and one al-Shaheen cargo from various sellers. The Anglo-Dutch oil major has resold one of the Qatar Marine cargoes to a customer in Thailand at a premium of more than US$0.20 per barrel to the […]