W. Africa Crude-Offers ease for heavy West African oil

Published 06/11/2020, 17:38
Updated 06/11/2020, 17:42
© Reuters.

LONDON, Nov 6 (Reuters) - Offers for medium to heavier
grades of West African oil eased after faster sales late last
month.

* Fewer than 10 cargoes of December-loading Angolan crude
were still available, traders said, with several likely to be
absorbed into equity holders' own refining systems.
* Chevron recently sold a cargo of Angolan Nemba to Repsol
at a discount to dated Brent.
* Spot cargoes of Angolan Dalia crude were sold out, with
sale prices easing to about 65-70 cents above dated Brent,
compared with offers closer to a dollar last month.
* Offers for lighter Angolan crude remained steady, with
Cabinda offered at a little more than dated Brent plus $1 and
Girassol at a little above $1.50 over dated Brent - little
changed from earlier in the week.
* Indonesia's Pertamina is running a rare tender to swap
crude, for which Nigerian grades are eligible, for Jan. 14-24
delivery in exchange for its own Banyu Urip crude. The tender
closes Nov. 9 and remains valid until Nov. 11.


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.