Earlier, China has informed Japanese term buyers it would supply about 300,000 tonnes of Daqing crude for July, compared with the original nominated volume of about 600,000 tonnes.

In June, China allocated 400,000 tonnes of Daqing compared with 616,000 tonnes nominated for the month.

But China and Japan have yet to conclude a new price formula for sales of the term crude to Japan for this year.

The reductions of July Daqing appeared to have minimal impact in spurring Minas premiums higher, traders said.

``I don't think the reduced volume is really going to tighten the market that much,'' one trader said.

``It depends on whether China itself will buy more (Minas) spot cargoes or not.''

No new spot trades were heard for heavy sweet Indonesian Minas, traders said.

Traders assessed July Minas premiums to the ICP still firm at70/75 cents per barrel.

The regional light crudes were steady with traders still waiting to see the number of West African or Asian cargoes Pertamina would buy for July in its tender, which closed last week.

India has bought by tender one VLCC of Escravos and one VLCC of Bonny Light for August through October.

The Escravos cargo was widely said to have been awarded to Chevron at an unspecified price, while the Bonny Light crude was awarded to Vitol at Dated Brent +90/92 cents, traders said.

They said the tender result was deemed neutral to the market.

In the market for the Gulf crudes, an August Qatar Marine was heard sold to a refiner at QGPC +8 cents, almost in line with previous trades.

A Chinese trader sold one million barrels of August Basrah Light to a US Major at OSP +25 cents.

The crude was last traded around OSP +25/30 for July.