Nigerian crude grades steady, tenders in focus

West African crude differentials were finding support from solid demand, traders said on Monday, while newly issued buying tenders were in focus.

April loading programmes were continuing to clear and around 20 remain. Exxon has sold some April-loading Qua Iboe, a trader said.

Qua Iboe for April was offered at dated Brent plus $1.70 to $1.80 a barrel, and May Exxon was offering May-loading Qua at a more ambitious dated plus $2.20, traders said.

Indian Oil Corp. is running a buy tender for crude cargoes loading May 20-29, a trader said. Uruguay’s state-run oil company ANCAP is also running a buy tender, but further details were not immediately available.


Source: Reuters



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