RTRS:Middle East Crude-Quiet as focus shifts to June
SINGAPORE, April 2 (Reuters) - Middle East crude markets remained weak on
Monday as traders shifted attention to the June-loading programme.
Traders are expecting to see prices pressured by previously unsold May
barrels and a higher flow of supplies from Russia.
"There is enough oil in the market ...we don't expect to see any upward push
on prices for Middle East grades at the moment," a trader said.
Abu Dhabi's June-loading Murban crude was valued at around 5-10 cents over
the official selling price, similar to levels discussed the previous week.
* MARKET NEWS
- Iraq's Deputy Prime Minister for Energy Hussain al-Shahristani said most
oil produced in the country's autonomous Iraqi Kurdistan is being smuggled
across borders, mainly to Iran, instead of fulfilling its export obligations.
- South African crude oil imports from Iran leapt in February to $364
million from zero the preceding month, customs data showed on Monday, dashing
the view that Pretoria has bowed to U.S. pressure to curb commercial links with
Tehran.
- French oil company Total, which wants to fly experts to a North
Sea oil platform to plan how to cap a well that has been spewing gas for the
past week, will discuss the safety of the scheme with British experts on Monday.
- Sudan and South Sudan on Sunday accused each other of launching attacks in
the oil-producing area straddling their border after talks aimed at ending the
worst hostilities since Juba declared its independence were delayed.
CRUDE Price Prev Change % change
June Oman diff to Dubai 1.61 1.78 -0.17
MAY Brent 122.80 122.9 -0.10 -0.08%
MAY Dubai 118.75 118.7 0.04 0.03%
June DME Oman 120.36 120.4 -0.13 -0.11%
May Brent/Dubai EFS 4.05 4.19 -0.14
DUB-EFS-1M
