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AME Info:Shell on Gulf oil buying spree

United Arab Emirates

Royal Dutch Shell has bought unusually high amounts of Dubai crude this month, pushing up prices for the benchmark Middle East grade and hurting Asian refiners already burdened with record costs, reported Reuters. Shell has so far this month bought 162 Dubai partials, or 25,000-barrel lots, more than the total number of trades in the first seven months of 2007. Shell had no comment as to the reasons for its spending spree.

http://www.ameinfo.com/132517.html

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