Abu Dhabi's retroactive official crude export prices fell for July-loading cargoes, as Abu Dhabi National Oil Co. (Adnoc) phased out the official prices of light sour Lower Zakum and Umm Shaif crudes. Some market sources believe however that Adnoc's prices should have been set slightly lower to account for extremely weak Asian refining margins, very strong benchmark Dubai crude prices and the recent plunge in light distillate cracks
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