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W. Africa Crude-Spot trade muted, tender results awaited

Published 08/07/2019, 17:50
Updated 08/07/2019, 18:00
© Reuters.  W. Africa Crude-Spot trade muted, tender results awaited

LONDON, July 8 (Reuters) - West African spot differentials
slowly firmed on Monday on the back of higher margins, after a
dip in the last few weeks, but spot activity remained thin.

* Around 12 cargoes from Angola's August loading programme
remained, traders said.
* State firm Sonangol was offering a cargo of Saturno at
dated Brent plus 70 cents loading Aug. 29-30.
* BP was still offering a cargo of Girassol at dated Brent
plus $2.00 loading Aug. 17-18. Cabinda was said to be sold out.
* Nigeria's Qua Iboe was said to have been trading just
above dated Brent plus $2.00 a barrel.

TENDERS
* Indonesia's Pertamina closed a tender for crude loading
Aug. 1-8 on Friday but results did not immediately emerge.

RELATED NEWS
* China's fuel producers are making extended curbs to their
output in the third quarter after supply from mammoth new
refineries stoked an already-sizeable glut, potentially dragging
on crude oil demand from the world's biggest importer of the
commodity.

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