India’s IOC issues new crude tender but spot activity lags after holidays

The market was slow to gear up after the Christmas and New Year holidays but fresh tenders were issued.

At least 20 Nigerian cargoes were still available. Bonny Light and Qua Iboe were heard to be offered at dated Brent plus $1.80, a level seen as too high by one potential buyer.

India’s IOC issued a buy tender for crude loading March 1-10 closing on Jan. 10. Turkey’s Tupras also issued a buy tender for west African crude.

Source: Reuters

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