LONDON, May 27 (Reuters) - Stagnant European demand offered
little hope to sellers of West African crude on Wednesday, as
China and India continued to show the most appetite for oil
imports.
* Traders said there would be three cargoes of Nigerian
Bonga crude oil exporting in July after Shell began a routine
two-week maintenance of its export terminal on May 21.
* Sellers of Nigerian crude continued to offer cargoes at
relatively high prices, with BP offering a cargo of Forcados at
dated Brent plus $2.85.
* Traders said demand from Asia, especially from India's IOC
which has absorbed several July-loading cargoes in a tender last
week, was encouraging while European demand remained subdued.
* Floating storage of West African crude was being partially
discharged in some East Asian markets, traders said, in a sign
that shipping could free up and demand was rising.
* Still, refiners - especially in Europe - had sought to
guarantee longer-term floating storage at the beginning of the
coronavirus outbreak and were not yet drawing on it.
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