Iraq has offered term buyers May-loading Basrah crude at steep discounts for loading inside the Strait of Hormuz, which has been largely blocked since the Iran conflict began, Reuters reports.

The OPEC producer is offering its flagship Basrah Medium crude at discounts of $33.40, or $26 a barrel to its May official selling price, for loading on May 1 to May 10 or May 11 to May 31, respectively, according to a May 3 notice from state oil marketer SOMO seen by Reuters.