W. Africa Crude-Spot activity muted after large tender

Published 09/06/2020, 17:34
Updated 09/06/2020, 17:36
© Reuters.

LONDON, June 9 (Reuters) - Spot activity was muted on
Tuesday as traders reassess positions after India's IOC picked
up about 6 million barrels via tender.

* Around 30 July-loading Nigerian cargoes were still
available.
* A dozen Angolan cargoes were still available from the July
programme.
* "Despite still sluggish demand in parts and a continued
theoretical capacity oversupply, Asian refining margins have so
far not fallen to the new lows seen amongst their European or US
counterparts," JBC said in an oil note.

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* Ian Taylor, who built Vitol into the world's biggest oil
trader, has died from pneumonia at the age of 64, the company
said on Tuesday, after surviving bouts of cancer and a stroke
last year. * China's oil hub Shandong has embarked on a plan to shut
down 500,000 barrels per day of capacity shared among small,
independent refiners to make way for the giant Yulong complex
that should spur economic recovery from the coronavirus crisis.

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