Totsa tenders Oman crude amidst supply tensions

MUSCAT: Totsa, the trading arm of French energy major TotalEnergies, has issued a tender to sell up to two million barrels of Oman crude for April loading, according to traders cited by Reuters. The offer represents the first Middle East oil tender since escalating tensions involving Iran disrupted regional energy flows and heightened volatility in global crude markets.
The cargoes are scheduled to load between April 1 and April 27 from Mina Al Fahal, Oman’s main crude export terminal. The tender closed on Wednesday afternoon in Singapore, where many regional oil traders and refiners are based.
Totsa — formally known as TotalEnergies Trading — is one of the world’s major energy trading houses. The unit manages the purchase, sale and transportation of crude oil and refined petroleum products globally. Its tenders are closely watched by market participants as they often signal supply availability and emerging pricing trends in international oil markets.
The timing of the tender is notable, coming amidst heightened geopolitical tensions in the Gulf following the Iran conflict, which has raised concerns about shipping security and supply flows through the Strait of Hormuz. Around a fifth of the world’s oil shipments typically transit the strategic waterway, making any disruption a key factor influencing global prices.
Against this backdrop, the availability of Oman crude is drawing interest from refiners seeking stable supplies. Oman’s export terminal at Mina Al Fahal lies outside the Strait of Hormuz, offering logistical advantages during periods of regional tension and allowing shipments to move without passing through the narrow maritime chokepoint.
Oil prices have also strengthened in recent sessions. The official price of Omani crude oil for May delivery reached $85.93 per barrel on Wednesday, rising by $3.84 compared with Tuesday’s price of $82.09.
Meanwhile, the average monthly price of Omani crude oil for March delivery stood at $62.17 per barrel, representing an increase of 8 cents compared with the February delivery price.