The Dubai Government's Oil Affairs Department said today, Wednesday, that the emirate has set the official difference for its crude to the Omani crude futures contracts for the month of November at a discount of $0.20 per barrel.

The price difference is applied to the average daily settlements of the nearest maturity contract for Omani crude for November delivery at the end of September to determine the official selling price for Dubai crude loading November.

Oil prices rose more than 3% on Tuesday, August 24, continuing their significant gains, supported by positive demand expectations after an American regulator issued the first full approval for one of the Corona vaccines, while Mexico has been hit by a major production halt due to a fire at an oil platform.