OSP PREVIEW: Saudi Arabia is expected to raise prices for all crude grades it sells to Asia in July for a third straight month after Middle East crude benchmarks jumped, trade sources said.

The producer is likely to increase the official selling price (OSP) for flagship Arab Light crude by up to $1 a barrel to the highest since January 2014, a Reuters survey of four sources at refineries showed.

Separately, UAE's ADNOC may raise the OSP premiums for light grades - Murban, Das and Umm Lulu - to Dubai quotes by 50 cents to 80 cents a barrel, traders said.

IRAN: Asia's crude oil imports from Iran jumped to the highest in nine months in April, as buyers rushed to ship in purchases before their waivers from US sanctions on Iran expired in May, data from government and trade sources showed.

Top buyers China, India, Japan and South Korea imported a total 1.62 million barrels per day (bpd) of crude from Iran in April, the highest since July and up 3.2pc from the previous month, the data showed.

Japan and South Korea stopped importing Iranian oil in May.

China likely received close to 11 million barrels of Iranian oil this month, while 4 million barrels have been discharged in India in May, according to data on Refinitiv Eikon.

RUSSIA: Surgutneftegaz sold six cargoes of ESPO crude for July-loading via a tender at lower premiums than the previous deal, trade sources said.

The cargoes were sold at premiums between $4.10 and $4.50 a barrel to Dubai quotes, they said.

The six cargoes will load on July 10-14, 14-18, 18-22, 22-26, 26-30 and July 29-31.

Surgut last sold two ESPO crude cargoes at premiums of $4.60-$4.70 a barrel, the highest in seven months.

Separately, Tenergy also sold two ESPO crude cargoes loading on July 20-26 and July 24-30 via a tender at a similar price range to that of Surgut's tender, the sources said.

ASIA-PACIFIC CRUDE: Petronas has sold a Bunga Kekwa crude cargo at a premium of $2-$2.50 a barrel to dated Brent and a Bunga Orkid cargo at a premium close to $4 a barrel to a trader, sources said. The cargoes will load in July.

WINDOW: Cash Dubai's premium to swaps fell 11 cents to $1.65 a barrel despite Shell's purchases. Unipec will deliver a July-loading Oman cargo to Shell after the deals.

This brings Shell's total cargo purchases on Platts window this month to 17.