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W. Africa Crude-Higher fuel oil margin buoys Angolan, IOC takes Nigerian

Published 05/08/2019, 17:19
Updated 05/08/2019, 17:20
© Reuters.  W. Africa Crude-Higher fuel oil margin buoys Angolan, IOC takes Nigerian

LONDON, Aug 5 (Reuters) - Higher fuel oil margins and demand
from Chinese independent refiners helped to prop up Angolan
crude grades on Monday while some Nigerian cleared in an Indian
buy tender.

* Angola's Girassol was recently offered as high as dated
Brent plus $3.00 while Dalia was pegged at around dated Brent
plus $2.50.
* Around 15 cargoes of Nigerian crude remain from the August
loading programme. Bonny Light and Qua Iboe were said to be
trading below dated Brent plus $2.00.
* Mercuria still had an August loading Forcados available,
traders said.
* Indonesia's Pertamina awarded a tender for crude to be
delivered Oct. 1-5, Oct. 8-15 and Oct. 22-29 but there were no
details yet on who had won the tender.
* India's IOC awarded a buy tender to BP for a cargo of Qua
Iboe, traders said, expected to load Sept. 11-12.

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will tack on a fee for users of a new oil pipeline to pay for
the cost of the Trump administration's tariffs on imported
steel, with analysts and traders calling it the first U.S.
energy pipeline operator to do so. * Britain on Monday joined the United States in a maritime
security mission in the Gulf to protect merchant vessels
travelling through the Strait of Hormuz after Iran seized a
British-flagged vessel.

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