Nigerian crude cargoes slowly clear

Nigerian oil registered its slowest sales of the year in August as U.S. exports of competing light, sweet grades flooded traditional markets in Europe and Asia.

Almost all cargoes for August had cleared by Friday, leaving at least a couple of dozen cargoes for September.

The last prompt-loading cargoes for Qua Iboe and Bonny Light have sold in recent days for a premium of a little less than $2 to dated Brent, an improvement from offers of a little over $1.50 the previous week.

 

Source: Reuters

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