Middle East

　In the trade of April-loading Qatari grades, State-owned Qatar Petroleum (QP) sold three cargoes of Al Shaheen for April-loading in its sell tender closed on Monday. It offered three cargoes for Apr 2-3, 13-15 and 23-26 loading. The average awarded price was at a premium of 4cts to Dubai quotes. One of the cargoes were reportedly sold at a premium of above 40cts to Dubai quotes and the buyer of the cargo was India's HPCL-Mittal Energy Ltd (HMEL). The remaining two cargoes were seen awarded at double-digit discounts to Dubai quotes.

Africa/Europe/Russia/America

　Spot differentials for April-loading East Siberian ESPO weakened. Russia's Surgutneftgaz sold four ESPO cargoes for Apr 14-21, 18-25, 22-29, 25-30 loading through its second sell tender closed on Monday. The average awarded price was at premiums of around $2.10 to Dubai quotes. The buyers were said to be Europe's Mercuria, Vitol, Royal Dutch Shell, and China's Sinochem group. Meanwhile, one or two April-loading ESPO cargoes could have been done at a premium of less than $2.00 to Dubai quotes, though it was unclear whether the cargoes were sold via the above tender

Asia Pacific

　Spot differentials for April-loading Australian Pyrenees fell. Australia's BHP Billiton sold one 550,000bbl cargo of Pyrenees for Apr 11-14 loading to Petro Summit at a premium of around $21 over DTD Brent in its tender closed on Feb 14. But after the tender, bunker fuel prices in Asia extended losses and the underlying market for Pyrenees could retreated.