W. Africa Crude-Nigerian April cargoes weigh on market

Published 31/03/2020, 18:03
© Reuters.

LONDON, March 31 (Reuters) - A drop in refining demand has
left a large number of Nigerian crude cargoes for April
overhanging the market.

* More than 20 cargoes of April loading Nigerian were still
available even though May trading should be full in swing.
* Angola's state firm Sonangol was still offering Cabinda,
CLOV, Dalia and Girassol.
* A rift in the Organization of the Petroleum Exporting
Countries (OPEC) has widened after members failed to agree
unanimously on an emergency low-level meeting to discuss a
market collapse that has seen global oil prices hit 18-year
lows. * Oil traders across the world are offering cargoes far in
advance as rapidly vanishing demand drives key physical crude
prices to multi-decade lows, with some U.S. oil valued at
roughly $10 a barrel and other grades even lower.

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.