Middle East Crude

Indian Oil Corp (IOC) purchased 2.0 million barrels of Murban and Oman via its tender. These grades were done at CFR based prices for arrival in May. The Murban was awarded at a premium of about $25.00 to May Dated Brent, while the Oman price was at a premium of over $20.00 or about $22.00 to Dated Brent. The seller for both grades was French Total Energy. TotalEnergies in March purchased 77 spot cargoes for Oman and Murban at fixed prices, and the major hold many cargoes at this stage. Total Energies would supply the Oman at the Mina Al Fahal port and the Murban at Fujairah port, both located outside of the Strait of Hormuz.

African/European/Russian/American Crude

ONGC conducted a May-loading Nile Blend sell tender this. BB Energy in Europe won the tender and bought one cargo. The awarded price was said to have been at premiums of $3.3 to Dated Brent. Several players such as European Vitol and China International United Petroleum & Chemicals Co (UNIPEC)had participated in the tender and demand had been robust

Asia Pacific Crude

The supply schedule for June-loading NWSC has been settled. Following the previous month, a total of two cargoes were scheduled for loading in line with typical monthly volumes. Woodside would handle one cargo for Jun 8-12 loading, while MIMI, a joint venture between Mitsubishi Corp and Mitsui & Co, would handle one cargo for Jun 25-29 loading. As previously reported, one cargo each for May-loading had been allocated to BP and Woodside.