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Asia midday crude futures: Ice Brent holds steady
Ice Brent futures were largely steady in early Asian trading while the market kept a close watch on the vessel passage situation through the strait of Hormuz.
The Ice front-month June Brent contract was at $94.94/bl at 04:00 GMT, up by 1¢/bl from its settlement on 15 April when it ended 14¢/bl higher.
The Nymex front-month May crude contract was at $91.67/bl, higher by 38¢/bl from its settlement on 15 April when it ended 1¢/bl higher.
At least seven ships have crossed the strait of Hormuz with their AIS transponders switched on in the past 24 hours, including a Handysize tanker that re-entered the Mideast Gulf after leaving the region a day earlier.
Iran has warned it could disrupt shipping across key regional waterways, including the Red Sea, in response to US restrictions on vessels entering or leaving Iranian ports. It marks a broadening of Tehran's maritime threat beyond the strait of Hormuz, where vessel traffic has already slowed sharply since the conflict between the US and Iran started in late February.
The US military has redirected a vessel that attempted to evade the US blockade of Iran, one of the first public examples of the Navy enforcing the edict, US Central Command (CENTCOM) said on 15 April.
The US has also sanctioned four companies and eight vessels via the Treasury Office of Foreign Asset Control (OFAC) to intensify pressure on Iran's oil transportation infrastructure.
Meanwhile, the US administration is unlikely to issue new sanctions waivers allowing purchases of Russian crude in floating storage, US energy secretary Chris Wright said on 15 April.
Disruptions in the Mideast Gulf supply as a result of the US-Israel war against Iran prompted Washington to issue a waiver allowing purchases of sanctioned Russian crude aboard tankers — first only for Indian refiners and then for all buyers in Asia.
US crude inventories fell last week by 913,000 bl on a sizeable draw at Cushing, Oklahoma, the Energy Information Administration (EIA) reported on 15 April.
Elsewhere, crude loadings at Russian Baltic and Black Sea oil terminals remain lower normal in the wake of recent Ukrainian drone strikes.
Ice Brent futures were largely steady in early Asian trading while the market kept a close watch on the vessel passage situation through the strait of Hormuz.
The Ice front-month June Brent contract was at $94.94/bl at 04:00 GMT, up by 1¢/bl from its settlement on 15 April when it ended 14¢/bl higher.
The Nymex front-month May crude contract was at $91.67/bl, higher by 38¢/bl from its settlement on 15 April when it ended 1¢/bl higher.
At least seven ships have crossed the strait of Hormuz with their AIS transponders switched on in the past 24 hours, including a Handysize tanker that re-entered the Mideast Gulf after leaving the region a day earlier.
Iran has warned it could disrupt shipping across key regional waterways, including the Red Sea, in response to US restrictions on vessels entering or leaving Iranian ports. It marks a broadening of Tehran's maritime threat beyond the strait of Hormuz, where vessel traffic has already slowed sharply since the conflict between the US and Iran started in late February.
The US military has redirected a vessel that attempted to evade the US blockade of Iran, one of the first public examples of the Navy enforcing the edict, US Central Command (CENTCOM) said on 15 April.
The US has also sanctioned four companies and eight vessels via the Treasury Office of Foreign Asset Control (OFAC) to intensify pressure on Iran's oil transportation infrastructure.
Meanwhile, the US administration is unlikely to issue new sanctions waivers allowing purchases of Russian crude in floating storage, US energy secretary Chris Wright said on 15 April.
Disruptions in the Mideast Gulf supply as a result of the US-Israel war against Iran prompted Washington to issue a waiver allowing purchases of sanctioned Russian crude aboard tankers — first only for Indian refiners and then for all buyers in Asia.
US crude inventories fell last week by 913,000 bl on a sizeable draw at Cushing, Oklahoma, the Energy Information Administration (EIA) reported on 15 April.
Elsewhere, crude loadings at Russian Baltic and Black Sea oil terminals remain lower normal in the wake of recent Ukrainian drone strikes.
By Rhalain Reyes