Three sources familiar with the situation said that producers in the Middle East had asked Asian refiners to "submit crude loading programmes" for April and may in preparation for a possible resumption of ship traffic through the Strait of Hormuz. The U.S. and Iran announced a two-week ceasefire agreement on Wednesday, which raised hopes for the reopening the Strait. Before the war, about 20% of world oil and LNG supplies were transported through the Strait. There is no indication that Tehran will lift its nearly total blockade on the waterway which has pushed up energy prices.

Two sources confirmed that Saudi Aramco, a leading global exporter, had 'asked its clients to nominate cargoes to be loaded from the ports in Yanbu and Ras Tanura during May. Two sources said that this would depend on the return of exports to the eastern Ras Tanura Port, which requires vessels to pass through the Strait of Hormuz.

Sources declined to name themselves because they weren't authorised to speak to the media. Aramco informed buyers last month that they would only be able to lift crude from the western Yanbu port on the Red Sea in April. The producer is shipping crude to Yanbu through the East-West Pipeline. The attacks on Saudi energy installations have reduced the country's oil production by 600,000 barrels a day, and the throughput of its East-West Pipeline has been cut by 700,000 bpd. This was reported by Saudi state-run news agency SPA on Thursday. It cited an official source from the Ministry of Energy.

KUWAIT, IRAQ

Two sources confirmed that Kuwait Petroleum Corp. has also?provided loading date for Kuwait Export Crude sold on a free-onboard basis (FOB) in April.

One of the agents said that cargo nominations were in progress and would be subject to customers' ability?to lift the cargoes.

KPC declared force majeure last month on?delivered oil supplies? as tankers could not enter the Gulf to lift oil.

Aramco and KPC were not immediately available for comment after office hours. Iraq's state oil marketer SOMO requested that its customers submit their loading schedules after media reports claimed that Iran had released Iraq from transit restrictions through the Strait of Hormuz.

Following the announcement of the ceasefire, Asian trading companies and refiners have been looking for tankers to "load crude" from the Gulf this week. Commodities traders Glencore and Taiwan's CPC each chartered a vessel to load Middle Eastern oil for Asia. Indian and South Korean refiners, meanwhile, are looking for vessels to load Iraqi oil this month. (Reporting and editing by Florence Tan, Siyi Liu)

(source: Reuters)