Middle East Crude

　In trade of Upper Zakum, a cargo for loading in the Side Kerir port off the coast of Egypt in the Mediterranean Sea was offered. The seller was European Mercuria that offered 700,000bbl for June to July loading. The offer was heard at a discount of $5 to OSP for loading in Sidi Kerir for Saudi Arabia's Arab Light crude. The background for the offer was unknown. But considering that the volume was 700,000bbl, "The cargo may have emerged as surplus avails caused by some reason", said a trader in Singapore.

African/European/Russian/American Crude

　In July-loading Congolese trade, sellers continued on selling Djeno. France's TotalEnergies offered July-loading Djeno at a discount of $4 to Dated Brent. However, there were few active buyers in the market. Chinese end-users, including China International United Petroleum & Chemicals Co (UNIPEC), kept purchasing competitively priced Russian and Brazilian grades, regarding Djeno as overpriced. A Singapore-based trader pointed out, "Negotiations for June-loading Djeno prolonged, with sellers eventually significantly reducing their offers and selling to UNIPEC. Similarly, for July-loading, TotalEnergies will likely need to lower its offers."

Asia Pacific Crude

　Under the circumstances, in trade of Malaysian grades, European Trafigura sold one cargo of August-loading Miri. The buyer was European Vitol and the price was heard at a premium of $11.25 to Dated Brent. Trafigura was believed to have resold a term cargo of Miri taken from Malaysia's state-owned Petro Sarawak. Trafigura in April won the term tender for Miri for second-half loading of 2026 conducted by Petro Sarawak at a premium of the $2.00s level to OSP as reported.