W. Africa Crude-Some July Angolan clears in spot activity

Published 14/06/2019, 17:23
W. Africa Crude-Some July Angolan clears in spot activity

LONDON, June 14 (Reuters) - Several cargoes of Angolan crude
traded in the spot market on Friday after differentials fell
sufficiently to compensate for the near $1 a barrel
backwardation in the front month of the Brent futures curve.

* About 8 cargoes of Angolan crude were still available from
the July programme.
* Two cargoes of Nemba changed hands at steep discounts.
Unipec bought a cargo from Chevron and Total bought a cargo from
Eni. Price details did not immediately emerge.
* In the previous day's window, Total had offered Nemba on
different dates at dated Brent minus 70 cents and Gindungo at
dated Brent flat. Unipec has been offering Mostarda all week on
Thursday lowered its offer to dated Brent minus 80 cents.
* About 30 cargoes of Nigerian crude were still available in
July.
* Several cargoes of Congolese Djeno were also still
available.

TENDERS
* India's IOC awarded its latest tender for mid-August
cargoes to Total and Chevron.
* Uruguay's ANCAP issued a tender closing June 18 for
end-September delivery.

RELATED NEWS
* The Paris-based International Energy Agency, which
coordinates the energy policies of industrial nations, revised
down its 2019 demand growth estimate by 100,000 barrels to 1.2
million barrels per day (bpd) due to worsening prospects for
world trade.

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