Higher offers emerge for Nigerian crude, but buyers remain lethargic

Higher offers emerged for Nigerian grades on Wednesday, but given the abundance of unsold cargoes, no buyers stepped forward, leaving differentials broadly unchanged.

Nigerian cargoes have been slow to sell over the past few weeks, but this did not deter sellers from raising their offer prices for both Qua Iboe and Bonny Light.

Both were offered around $1.70 a barrel above dated Brent, compared with recent indications closer to $1.55, but found no buyers.

There are around 25 cargoes left for sale from the October and November programmes, marking very little change over the last week.

Source: Reuters

 

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