W. Africa Crude-Bonny Light pipeline fixed, coronavirus weighs

Published 28/01/2020, 18:54
© Reuters.  W. Africa Crude-Bonny Light pipeline fixed, coronavirus weighs

LONDON, Jan 28 (Reuters) - Spot demand was slim owing to the

Chinese New Year holiday along with fears the coronavirus will

dampen fuel needs in China, a major West African crude buyer.

* Asian jet fuel prices have dropped and refiners' profits

for the product have slumped to the lowest in more than 2-1/2

years, while industry analysts are cutting their 2020 forecasts

for jet fuel and overall oil demand. * Nigerian oil producer Aiteo has repaired the Nembe Creek

Trunk Line which transports Bonny Light crude, traders said.

Aiteo did not immediately respond to a request for comment.

* Shell, which operates Bonny Light exports, has not yet

lifted force majeure, the traders added. Shell did not

immediately have a comment.

* About 20 March-loading Angolan cargoes are still unsold, a

trader said.

* Sonangol was still offering a cargo each of Dalia and

Girassol, a source said. The Dalia was last being offered at

more than dated Brent plus $2.50 and Girassol at close to dated

Brent plus $3.90.

TENDERS

* India's HPCL issued a buy tender for crude cargoes loading

March 10-20. The tender bids remain valid until Jan. 31.

* Indonesia's Pertamina issued a buy tender for crude for

April 15-17 or 8-10 delivery depending on the port. Bids are due

by Jan. 30 and remain valid until Feb. 3.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.