Bank of America just raised its EUR/USD forecast
LONDON, March 18 (Reuters) - West African crude sales
continued to progress slowly on Thursday amid Chinese refinery
maintenance and muted European demand despite favourable freight
rates.
* Chinese refinery maintenance season proceeded and is due
to peak in May and begin tapering in June, traders said,
depriving some West African crude grades of their main outlet.
* A small change was made to the new preliminary Angolan
export schedule for May, with a cargo of Cabinda being
substituted for a Mostarda - which sold especially slowly in
April as jet fuel refining margins stayed low on poor demand.
* Around five cargoes of April-loading Angolan crude were
yet to be sold, traders said.
* Equinor continued to offer a cargo of Girassol in the
Platts window loading May 10-11 at just over dated Brent flat.
* India's MRPL issued a buy tender, which closed on Thursday
for May loading, though results did not immediately emerge.
* India's IOC also issued a fresh tender for May loading
crude closing this week.
RELATED NEWS
* U.S. crude oil, gasoline and distillate stockpiles all
rose last week, as refiners boosted output with more facilities
coming back online following February's devastating storms in
Texas. * Oil prices sunk for a fifth day in a row on Thursday to
their lowest in two weeks on a stronger dollar, a further
increase in U.S. crude and fuel inventories and the weight of
the ever-present COVID-19 pandemic.