SINGAPORE: Middle East crude benchmark Dubai, as quoted by price-reporting agency S&P Global Platts, rose for a third straight month in January to an average of $54.772 a barrel, the highest since February last year, two market participants said on Monday.

The monthly averages for January for Dubai and Oman as quoted by Platts are indicated in the table. Middle East producers set their monthly official selling prices (OSPs) at premiums or discount to these averages.

Saudi Aramco changed the benchmark for setting its official selling prices to Asia starting from October 2018 to the average of Platts Dubai and DME Oman crude futures.