Middle East Crude-Benchmarks edge lower; post weekly loss

SINGAPORE, April 10 (Reuters) - Middle East crude benchmark spot premiums of Murban, Dubai and Oman edged lower on Friday amid light trading and were set for a weekly losses due to the two-week ceasefire deal.

A ceasefire between the U.S. and Iran announced on Wednesday lifted hopes for a reopening of the Strait of Hormuz, which carried about 20% of global oil and liquefied natural gas $(LNG)$ supplies before the war.

But there has been no sign yet of Tehran lifting its near-total blockade of the critical waterway, driving up energy prices sharply.

Producers in the Middle East have asked Asian refiners to submit crude oil loading programmes for April and May in preparation for the eventual resumption of shipping through the strait, three sources with knowledge of the matter said.

Oil prices climbed on Friday, driven by fresh anxiety over supplies from Saudi Arabia and as tanker traffic through the strait remained largely frozen. O/R

Despite this, prices were still headed for a weekly loss. Hopes of a diplomatic opening improved after Israel said it was ready to begin direct talks with Lebanon as soon as possible.

SINGAPORE CASH DEALS

Cash Dubai's premium to swaps fell 46 cents to $12.10 a barrel.

PRICES ($/BBL)

NEWS

Japan plans to release 20 days' worth of oil reserves from May, Prime Minister Sanae Takaichi told a cabinet meeting on Friday, to ensure stable domestic supply while searching for non-Middle East barrels as conflict in the region disrupts global supply.

Chinese independent refiners have bought Iranian oil at premiums to Brent for the first time in years, after benchmark prices fell and amid expectations that India might purchase more cargoes after Washington's temporary waiver of sanctions.

Energy companies evaluating whether to invest in Venezuela are waiting for the OPEC nation's oil ministry to release contract models that will provide specific terms to continue, expand or start businesses there, two sources close to the matter said.

French oil major TotalEnergies TTEF.PA said on Friday that one of the SATORP refinery's processing trains in Saudi Arabia had been damaged after incidents that took place during the night of Tuesday to Wednesday, which prompted it to shut down the units as a safety precaution.

For crude prices, oil product cracks and refining margins, please click on the RICs below.

(Reporting by Siyi Liu in Singapore;)

((siyi.liu@thomsonreuters.com;))

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