Middle East Crude-Benchmarks steady; Sokol’s premium jumps

Middle East Crude-Benchmarks steady; Sokol’s premium jumps

SINGAPORE- Middle East crude benchmarks Oman and Dubai were little changed on Friday, while Russian Sokol's premium jumped nearly $2 to a multi-month high.

Saudi Aramco has notified at least six Asian buyers that it will supply full contractual volumes of crude oil in March, sources with knowledge of the matter said on Friday.

OSPs

Iraq has raised the March official selling price (OSP) for Basra Medium crude to Asia to plus $1.30 a barrel to the average of Oman/Dubai quotes, up 80 cents from the previous month, two sources with knowledge of the matter said on Friday.

Basra Heavy to Asia in the same month was priced at minus $1.80 a barrel to Oman/Dubai quotes, up 95 cents.

RUSSIA CRUDE

India's top explorer ONGC Videsh has sold a cargo of Russian Sokol crude for April loading at a multi-month high premium, trade sources said.

Spot premiums for Middle East and Russian grades were expected to rise for April-loading barrels this month as Brent-linked grades have become more expensive.

The 700,000-barrel cargo loading on April 2-8 was sold at a premium of about $7.50 a barrel to Dubai quotes likely to European trader Gunvor, they said, nearly a $2 jump from the previous month.

This is likely the highest