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Mideast crude benchmark Oman hits more than 2-year high amid U.S. sanctions on Russia
The Middle East petroleum benchmark premium for Oman rallied to the greatest in more than two years on Tuesday, while that for Dubai and Murban reinforced to a 15month peak. Rates were raised by brand-new U.S. sanctions on Russian producers and tankers that are designed to curb the profits of the world's second-largest oil exporter. The U.S. Treasury on Friday enforced sanctions on Russian oil producers Gazprom Neft and Surgutneftegaz, in addition to on 183 vessels that form part of a shadow fleet that has so far enabled Russia to skirt sanctions to get its oil to worldwide markets. The...