LONDON, May 13 (Reuters) - Traders continued to seek
concrete indications of where Nigerian oil prices were headed as
a small handful of widely divergent prices provided a confusing
picture, with oil storage capacity and reduced demand still
weighing.
* Offers by Mercuria of Nigerian Bonny, Bonga and Forcados
for loading between June 1-16 on a free on board basis on the
Platts window late last week were regarded as extremely low.
* Offers by Chevron and Exxon of Qua Iboe above dated Brent
flat for the first time in months shortly thereafter painted the
opposite picture, though those cargoes could eventually be
absorbed by the majors' own refining system.
* Information on actual sales of the cargoes remained
elusive amid muted trading, with results of a tender by India's
IOC expected to provide a better gauge of demand.
* With storage capacity still tight worldwide despite an
unexpected stock draw in the United States, one trader said it
was unclear if some Nigerian cargoes were floating offshore as
storage or were awaiting discharge.
* Sonangol had just about sold out of their June-loading
cargoes although a slightly higher than normal glut remains
ahead of new programmes despite a pick-up in Chinese demand.
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