LONDON, June 25 (Reuters) - A sharp improvement to European
gasoline cracks could soon lead to an uptick in demand for
Nigerian crude, traders said, but differentials remained steady
on high storage and mostly bad margins.
* Increased mobility helped send European gasoline cracks
higher and provided a boost to sellers of Nigerian oil.
PRO/E
* Still, sold prices for lighter Nigerian crude grades Qua
Iboe and Bonny Light have yet to exceed around dated Brent plus
a dollar in recent days, as European gasoline stocks have
slipped but remain near all-time highs.
* Raised official selling prices by about $1.30 for these
grades in July compared to June are realistic, according to one
trader, though the destocking in Europe may take a while before
new demand can kick in.
* A tender from Taiwan's CPC for sweet crude was likely
awarded to a shipment of WTI Midland oil and not West African,
but traders awaited results for Thai oil refiner IRPC which also
issued a tender for sweet crude valid until Wednesday.
RELATED NEWS
* U.S. petroleum refiners are dealing with the problem of
excess fuel stocks by only slowly ramping up their crude
processing, even as lockdowns are eased and fuel consumption
recovers. * The Belgian port of Antwerp has quarantined a
Maltese-flagged oil tanker until at least July 4 after more than
half of its crew tested positive for COVID-19, the port
authority said on Thursday.