Dirty fuel clampdown risks nosedive for Mideast crude

Wider gap: An oil tanker is seen at a crude oil terminal in Ningbo Zhoushan port, China. The discount of Middle East’s Dubai crude to London’s Brent could widen beyond US$8 a barrel from current levels around US$4, according to Citigroup Inc. — Reuters

THE global push for cleaner-burning ship fuel is threatening to drive the value of Middle East crude to a record low even as supplies are squeezed.

The discount of Middle East’s Dubai crude to London’s Brent could widen beyond US$8 a barrel from current levels around US$4, according to Citigroup Inc.