Glencore Sells UAE Murban Crude to US Refiner Marathon in Rare Deal

The deal also comes as the economics of moving Middle East crude to the U.S., the world’s No. 2 crude importer, have become attractive, traders said.

Florence Tan, Reuters

Commodities trader Glencore has sold 1 million barrels of June-loading Murban crude to U.S. refiner Marathon Petroleum Corp. (MPC) in a rare deal, traders said on April 14, as more U.S. refiners seek replacements for Russian oil.

The deal also comes as the economics of moving Middle East crude to the U.S., the world’s No. 2 crude importer, have become attractive, they said.

An MPC spokesperson said the company does not typically discuss crude sourcing. Glencore did not respond to a request for comment.

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