Middle East Crude

　In the term-based trade, a state-owned oil firm in India moved to secure Das under a long-term contract. The oil firm plans to secure one cargo per month of Das for one year starting from April. The company would secure Das under the term contract, judging that Das values were more economical than Abu Dhabi's other light grade Murban. In the spot market, Das is normally traded lower than Murban.

African/European/Russian/American Crude

　In the trade of arbitrage condensates bound for Asia, European Glencore was offering one cargo for Equatorial Guinea's Alba condensate for May arrival. A European trader seen as Glencore purchased the above cargo at a discount of high $7.00s to Dated Brent on an FOB basis in a tender by US Marathon Oil and Glencore was still in talks to sell the cargo as May-arrival for Asia. For other arbitrage condensates, Nigeria based Sahara Energy had one cargo for May arrival Escravos condensate.

Asia Pacific Crude

　Vietnam's PV Oil floated a sell tender for April-loading Ruby. In the tender, PV offered 300,000bbl of Ruby for Apr 3-10 loading. About one cargo of Ruby per month is supplied. For February-loading, PV Oil earlier sold 300,000bbl of Ruby at a premium of low $5.00s to Dated Brent.