Nigerian crude struggles to find buyers as loading delays persist

At least 20 cargoes of June loading crude offered at relatively elevated prices struggled to find buyers, as likely customers in Europe sought cheaper barrels closer afield in the Mediterranean and from Russia.

A force majeure on the Amenam stream and Bonny Light streams continued to cause loading delays.

Major buyer India was heard not to have significantly stepped up purchases despite having been Iran’s number two customer. The U.S. has placed crude export sanctions on Iran.

 

Source: Reuters

 

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