Middle East Crude

　In the trade of Saudi Arabian grades, state-owned Saudi Aramco continued to load cargoes at the Yanbu port that faced the Red Sea. Saudi Aramco supplies Arab Light ex the Yanbu port for its long-term contractors and also supplies Arab Super Light (ASL) for some term buyers such as end-users in Japan and South Korea. The Yanbu port is a main supply channel for long-term buyers in Asia with supplies exceeding 2.00 million barrels per day. "As of Wednesday (Apr 1), "YAPAPANI" with capacity of 165,319mt was berthed at the Yanbu's loading facility and loading operations for Saudi Arabian crudes are ongoing," said a trader in Singapore.

African/European/Russian/American Crude

　In trade for Russian grades, negotiations for Urals for May arrival in India cargoes were suspended. The halt followed a drone attack in late March on Primorsk, a key export terminal in northwestern Russia, which damaged storage tanks and loading facilities. Talks were expected to resume once the loading terminal returns to operation, according to sources. Meanwhile, market sentiment for Urals strengthened amid tighter supply. The market for May-arrival in India were heard at a premium of $7-8 to Dated Brent, up by $3-4 from last week.

Asia Pacific Crude

　Indonesia's TIS Petroleum sold May-loading Vietnam's Hai Thach condensate and Indonesian Lalang crude via a sell tender in March. Both awarded prices were on an FOB basis, with Hai Thach condensate at a premium of around $17 to Dated Brent, and Lalang at a premium of around $13.00 to Dated Brent. PTT Public Co won these cargoes (each 200,000barrels).