W. Africa Crude-Angolan cargoes re-offered, Nigerian seen weaker

Kitco Media
By Reuters
Published:
Updated:
Reuters
LONDON, Feb 14 (Reuters) - Some Angolan crude cargo owners were re-offering cargoes bought earlier in the trading cycle, traders said on Tuesday, reflecting gains in the market owing to higher Chinese demand.
* Traders put the number of unsold Angolan cargoes at about 4-5 including re-offers.
* The April loading schedule was expected to be issued as early as Wednesday or Thursday. The March trading cycle has been one of the fastest selling in months, traders said, after China's COVID restrictions were scrapped.
* On Nigerian crude, one trader said a narrowing of refining margins are likely to weigh on differentials that have risen in the latest trading cycle.
* The last offer of Qua Iboe crude, heard late last week, was at dated Brent plus $5.00. (Reporting by Alex Lawler Editing by David Goodman)

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