Middle East Crude

In trade for Murban, it turned out that INPEX had sold two to three cargoes of June-loading Murban by end-March. The prices were linked to the OSP and some traders seemed to have bought one or two cargoes from INPEX for the purpose of reselling. INPEX, an equity holder of Abu Dhabi grades, usually sells several cargoes at prices linked to the OSPs by the end of the month three months prior to the loading month.

African/European/Russian/American Crude

In trade for African grade, China's International United Petroleum & Chemicals Co (UNIPEC) was said to have purchased May-loading Hungo and Mondo. The seller for Hungo was believed to be Norway's Equinor and that for Mondo was US ExxonMobil. Of these, the price for Hungo was heard at a premium of around $1.00 to Dated Brent, while that for Mondo was not far from the price of the Hungo. Meanwhile, Angolan producer Sonangol in late March sold May-loading Dalia at a premium of high $1.00s to Date Brent. In the trade of arbitrage condensates for Asia, one cargo each of Norway's Ormen Lange for May and June arrival was offered to Asia. Of these, it turned out that an end-user in South Korea purchased one of these cargoes, but the details such as the price were unknown. A trader and Norway's Equinor had offered these cargoes.

Asia Pacific Crude

In trade for May-loading condensates, some players still held uncommitted cargoes to sell. Mitsui Energy Trading Singapore (METS) tried to sell May-loading New Zealand's Kupe condensate to end-users in Korea. METS apparently offered the cargo at discounts in the $5's to Dated Brent on a CFR Korea basis. Apart from that, US Chevron could sell Wheatstone and Briton's Shell offered Prelude. Besides, one trader held April-loading Malaysia's Terengganu condensate.