RTRS:Middle East Crude-May Murban weighed on by Russia arbitrage
SINGAPORE, March 22 (Reuters) - Russian arbitrage flows into Asia are
expected to weigh on the Middle East crude market, with buyers expected to seek
out alternatives to the slightly more expensive barrels from Gulf producers.
Abu Dhabi's benchmark Murban crude for May was pegged at just below 30 cents
a barrel above Dubai quotes, slightly lower than levels seen earlier in the
month.
Kenyan oil marketer KenolKobil has won a tender to import and
deliver 80,000 tonnes of Murban crude oil to Kenya in May.
* MARKET NEWS
- Saudi Arabia will be able to pump enough oil to compensate for any loss
of Iranian output caused by Western sanctions, the head of the International
Energy Agency (IEA) said on Friday.
- Malaysia's state oil firm Petronas will halt all imports of Iranian crude
from April, two months before a U.S. embargo takes effect, joining a growing
list of buyers bowing to Western pressure to isolate Iran, Petronas sources said
on Friday.
CRUDE Price Prev Change % change
MAY Oman diff to Dubai 2.33 2.57 -0.24
MAY Brent 123.68 123.40 0.28 0.23%
MAY Dubai 119.93 119.68 0.25 0.21%
MAY DME Oman 122.26 122.25 0.01 0.01%
MAY Brent/Dubai EFS 3.75 3.72 0.03
DUB-EFS-1M
