Algerian Crude Rises to Five-Month High on European Refining
- Libya's failure to ramp up oil output boosts Algerian price
- Nigeria's crude fared less well as Asia's market weakened
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Oil from OPEC-member Algeria is selling at its highest premium to the Brent crude benchmark in five months amid strong demand from European refineries.
The North African country’s Saharan Blend official selling price was set at a 75-cents-a-barrel premium to Dated Brent for September, compared with a 45-cent premium in August and a 20-cent discount in July.