1.Saudi Aramco increased May prices for its light crudes to Asia-Pacific by 20-25￠/bl,while Abu Dhabi’s Adnoc cut the March selling price of light sour Murban by 10￠/bl-the sixth straight month that Adnoc has cut the Murban premium.2.Aramco introduced sharp $1.00-1.30/bl increases for its official formula prices for May-loading crude sold into the Mediterranean region,while raising prices to northwest Europe by up to $1.50/bl.A cargo of Iraqi Kurdish crude sailed for China for the first time since at least 2014,amid a sour crude shortage triggered by US sanctions on Iran and Venezuela.3.Russian Baltic Urals values gained around 60￠/bl against North Sea Dated,partly driven by demand from outside northwest Europe,with cargoes expected to depart for the US and China this month.Black Sea Urals prices remained supported by the persistent undersupply of sour crude in the Mediterranean region.Caspian CPC Blend firmed by 40￠/bl relative to North Sea Dated,driven by a tighter April export schedule,with loadings cut by 11pc from March to a 20-month low of 1.12mn b/d.
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