Middle East crude benchmarks Oman and Murban fell on Tuesday amid muted trade, while Dubai edged up, supported by bids on window.

ASIA-PACIFIC CRUDE

PV Oil has sold a May-loading Ruby crude cargo to PTT at a premium of above $5 a barrel to dated Brent, steady from the previous month, traders said.

RUSSIA CRUDE

India was the biggest buyer of seaborne Urals oil in March and the country’s demand for the grade means Russia has to maintain high exports, two traders said and Refinitiv Eikon data showed on Monday.

In March, India’s purchases of Urals oil accounted for more than 65% of total seaborne exports of Urals, Refinitiv data showed.

SINGAPORE CASH DEALS

Cash Dubai’s premium to swaps rose 2 cents to $1.02 a barrel.

NEWS

Russia has successfully redirected all its crude oil exports affected by Western sanctions over Ukraine to “friendly” countries, Energy Minister Nikolai Shulginov said on Tuesday, while still a decline in oil and gas output this year.

Russia’s diesel and gasoil shipments to Brazil, Turkey and Africa were heading to new record highs in March as traders pushed into new markets following an EU ban on Russian oil products, according to traders and Refinitiv data.

Oil production in Iraq’s semi-autonomous Kurdistan region (KRI) is at risk after a halt in northern exports has forced firms operating there to cease output or divert crude to storage, where capacity is limited.

Canada’s Brookfield BBAM and its partner EIG decided to go ahead with a $10.2 billion plan to buy Australia’s Origin Energy Ltd ORG despite escalating regulatory and government policy headwinds, senior management at the group said on Tuesday.
Source: Reuters