Malaysia spot crude premiums hit multi-year high on tight supplies

SINGAPORE: Asia-Pacific refineries are forking out multi-year high premiums for sweet crude produced in the region as alternative supplies from the West have become more expensive with the rise in shipping costs, several trade sources said on Monday.

Lower exports from Indonesia and Vietnam have also helped push up premiums for crude produced in Malaysia such as Labuan and Kimanis to the highest in years, they said.