Murban Crude Price Today

Murban crude oil is Abu Dhabi's flagship light crude grade and one of the newest exchange-traded oil benchmarks in the world. Launched on ICE Futures Abu Dhabi (IFAD) in March 2021, the Murban futures contract represents Abu Dhabi National Oil Company's (ADNOC) ambition to establish a transparent, market-driven benchmark for Middle Eastern crude. With an API gravity of approximately 40 degrees and sulfur content of about 0.8%, Murban is a high-quality crude well-suited for refining into gasoline and naphtha. ADNOC produces roughly 2 million barrels per day of Murban, making it one of the most liquid physical crude streams in the Middle East. The transition from retroactive OSP-based pricing to exchange-traded futures marked a significant shift in how Middle Eastern crude is priced, offering greater transparency and hedging opportunities for international refiners.