Sellers of Nigerian oil expressed optimism that resumed mobility amid the easing of lockdowns would boost gasoline demand amid a slowdown in global refining in May.

Those factors could lead to a jump in differentials for light, sweet crudes but European traders said there was no immediate sign of higher sale prices as volatile markets and long voyage times made the value of African oil unpredictable.

Offers for Nigerian Egina have jumped to dated Brent plus $2.50 after lingering at dated Brent flat, but it remains unclear whether any buyers were found.

 

Source: Reuters

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