* Benchmark Qua Iboe steady at dated plus $1.35 * Most Nigerian May 1-15 stems sold; almost all Angolan gone * Indian buying tender awaited
LONDON, March 31 (Reuters) - West African crude oil
differentials steadied on Wednesday after several days of weaker
levels as refining margins in the U.S. Gulf rose and Asian
buyers continued to pick up stems. Most Nigerian cargoes for the first half of May have now
been sold and almost all the Angolan programme allocations had
been committed, traders said.
NIGERIAN * Qua Iboe BFO-QUA: assessed around dated Brent plus $1.35
after Exxon sold its May 16-17 cargo to Chevron at close to that
level, traders said. * Bonny Light BFO-BON: said tradeable close to dated plus
$1.25 or $1.30 with the last three May cargoes, two with Shell
and one with Total, unsold. * Bonga: several stems still said available with assessments
close to dated plus $1.20.
ANGOLAN * Kissanje: Sellers reported at around dated minus 70 cents
but buyers said to be much lower, possibly as low as minus
$1.50. * Girassol: Offers for late May reported around dated minus
20 cents but potential buyers closer to minus 50 cents.
ASIAN TENDERS * State-owned Indian Oil Corp (IOC) has opened a regular
monthly tender for June loading sweet crude oil, a tender
document showed. Grade offers for the tender must be submitted
by March 30 with price offers due the following day. Both offers
will be valid until April 1 when the tender will close.
For a database of oil supply and demand fundamentals
upstream and downstream, Reuters subscribers can click here
(Reporting by Christopher Johnson; editing by James Jukwey)
No comments:
Post a Comment