Details of cargoes offered into India's tender to buy March crude cargoes were still sketchy in early trade, but traders said the number of purchases made by IOC would be a leading factor to shape the Dubai market and the Brent/Dubai spread. The tender closed on Thursday and is valid for a day.One March Murban cargo was believed to have been traded overnight to Kenya, although details were unclear.

About five Murban cargoes are believed to be uncommitted and in the hands mostly of equity producers.

After having climbed to a high of 23 cents per barrel, the premium has drifted lower.

"(I think it would) probably be difficult to achieve 20(cents) now," one market source said when asked the market level for the light Abu Dhabi crude."Alternative crudes are certainly a big factor at the moment," he said referring to the recent large flow ofBrent cargoes to Singapore and China which has put pressure on premiums.

He said most of the remaining buyers were not as particular about the crude they purchased and would be happy if they could find a cheaper, alternative grade. Oman's premium also appears to have peaked for similar reasons, but with only a handful of uncommitted barrels available for March.

Traders said about seven Dubai cargoes appear to have been offered into India's tender for March. This is believed to be the remainder of the Dubai cargoes for March as six of the 14 available for the month are thought to have been placed with end-users in Japan, South Korea and Singpaore, they said.

Traders said that if India purchased five or more Dubaicargoes that would tighten the market. "That should help to tighten up the inter-month spreads and also to put a bit more downward pressure on Brent/Dubai," the industry source said.

Elsewhere, traders will be placing their bids for March Masila cargoes with Yemen on Friday.

Vietnam's tenderto sell March-loading Bach Ho cargoes closes on Friday.