Nigerian crude grade offers steady

Nigerian grades were heard on Tuesday to be offered at steady, relatively firm levels. About half of the Nigerian cargoes for June loading remain available, traders said.

Qua Iboe was still being offered at a relatively high price of dated Brent plus $2.50.

Outages have tightened supply. Shell last week declared force majeure on exports of Bonny Light after the closure of one of two export pipelines. Amenam, operated by Total, was also heard to be under force majeure.

Oil facilities in Nigeria’s Nembe region were also hit by a shutdown and protests that began on Sunday, operator Aiteo said on Monday.

 

Source: Reuters

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