Markets

W. Africa Crude-Angolan strong, Nigerian programmes trickle out

Published August 23, 2016 Updated August 23, 2016 07:38pm

LONDON: Angolan crude differentials stayed firm on Tuesday, supported by a combination of Chinese demand, tighter supplies and cheap freight.

More Nigerian loading programmes appeared for October. Output could rise if a ceasefire promised by Nigerian rebels, who have claimed attacks on oil sites, holds. ANGOLA

Differentials for October-loading barrels, in early trades, have been higher than those achieved by September cargoes.

Sellers are asking dated Brent minus $1.70 for Hungo and the same for Pazflor, a trader said, in line with offers in recent days and considered strong levels for those grades.

State oil firm Sonangol has sold all of the four cargoes it was offering for October.

NIGERIA

Nigerian grades Qua Iboe, Bonny Light, Brass River and Forcados are under force majeure.

Copyright Reuters, 2016