LONDON, April 14 (Reuters) - Offers for lighter Nigerian
crudes continued to ease on Wednesday, as a large handful
Angolan cargoes loading in May remained unsold amid ebbing
Chinese demand.
* Poor European demand due to new coronavirus lockdown
measures along with competition from U.S. oil was dimming
prospects for Nigerian oil sales there.
* India's IOC was running two buy tenders for June-loading
crude set to close on Thursday, offering hope for the sizeable
overhang of unsold crude after the country bought multiple
Nigerian cargoes late last week.
* Offers for Nigerian Agbami crude slipped to around dated
Brent minus $2, roughly in line with the recent price plunges
for light U.S. WTI Midland crude.
* Around 8 cargoes of Angolan crude loading in May remain
unsold, with many differentials for several grades sinking to
multi-month lows as new June volumes are expected this week.
* An uptick in Chinese buying of Iranian oil is increasingly
squeezing sales there of Angolan, Brazilian and North Sea crude.
NEWS
* Vaccine rollouts are brightening the outlook for global
oil demand, the International Energy Agency (IEA) said on
Wednesday, although rising cases in some major oil-consuming
countries show a recovery may be fragile. * U.S. crude stocks and distillate inventories fell while
gasoline inventories rose, the Energy Information Administration
said on Wednesday.