QatarEnergy Offers First Crude Tender Since February via Transfers East of Strait of Hormuz

com reported. The tender closes on June 29. Loadings are to occur via ship-to-ship transfers between the offshore waters of Fujairah in the United Arab Emirates and Sohar in Oman, an area outside the Strait of Hormuz.

Earlier this week Qatar signed a deal with a Taiwanese refiner for the sale of one cargo of Al-Shaheen crude. The Qatari tender adds to rising supply from other Gulf producers. Abu Dhabi’s ADNOC has sold more than 60 million barrels of crude in three tenders for June, July, and August loadings via similar transfers east of the strait.

Kuwait is offering naphtha for loading at its ports deep in the Persian Gulf in the first such tender in months. Oil prices have returned to roughly the levels seen before the war after increased tanker traffic through the Strait of Hormuz depressed prices over the past week.