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W. Africa Crude-Market quiet with ample supply

Published 28/07/2020, 18:16
© Reuters.
STAN
-

LONDON, July 28 (Reuters) - Spot activity was subdued on
Tuesday with a long market and few buyers and with a contango
back in the structure suggesting a growing imbalance.

ANGOLA
* Sonangol was offering: Dalia, loading Sept. 19-20, at
dated Brent plus $1.60, Gindungo, Sept. 16-17, at dated Brent
plus $1.00, Cabinda at dated Brent plus $1.80 and Girassol at
dated Brent plus $2.10.

NIGERIA
* Just under 20 cargoes were still available from the August
loading programme.
* Bonny Light and Qua Iboe were being offered at about dated
Brent plus 90 cents to plus $1.00.

RELATED NEWS
* Nigeria's state oil firm NNPC has signed a $1.5 billion
prepayment deal led by Standard Chartered STAN.L and backed by
oil traders Vitol Group and Matrix Energy, two sources close to
the matter said, the first such agreement since the coronavirus
pandemic.

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