SINGAPORE, May 11 (Reuters) - Middle East crude benchmark premiums of Oman, Dubai and Murban edged higher on Monday with light trading activity, as traders assessed the supply outlook amid patchy peace talks between the U.S. and Iran.

Oil prices rallied on Monday, a day after U.S. President Donald Trump said Iran's response to a U.S. peace proposal was "unacceptable", raising supply fears as the Strait of Hormuz stayed largely closed, which kept the global market tight. O/R

SAUDI ALLOCATION

Saudi Arabia's crude exports to China are set to fall further in June after buyers cut nominations due to costly prices linked to the Iran war, trade sources said.

State oil giant Saudi Aramco 2222.SE will ship about 10 million barrels of oil to its customers in China next month, or roughly 333,333 barrels per day (bpd), they said.

This would mark a record low for data by Kpler and Reuters, and compared with an average 1.39 million bpd that the kingdom shipped to China in 2025.

Major Chinese refiners, including Sinopec 600028.SS, Sinochem and Rongsheng Petrochemical 002493.SZ, have reduced their lifting for June, according to the sources, who were not authorised to speak to the media.

SINGAPORE CASH DEALS

Cash Dubai's premium to swaps rose 46 cents to $7.64 a barrel.

PRICES ($/BBL)

NEWS

Saudi Aramco reported a 25% jump in first-quarter profit on Sunday, showing its resilience as U.S.-Iran war tensions curtail Strait of Hormuz shipping, with the state oil giant's East-West crude pipeline running at full capacity to mitigate the impact to supplies.

China's oil imports fell to the lowest level in almost four years in April as the closure of the Strait of Hormuz choked off supplies to the world's largest oil importer.

Three tankers carrying crude exited the Strait of Hormuz last week and on Sunday with trackers switched off to avoid Iranian attacks, shipping data from Kpler and LSEG showed on Monday, underscoring a rising trend to sustain Middle East oil exports.

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