W. Africa Crude-Trading muted as April sales yet to take off

Kitco Media
By Reuters
Published:
Updated:
Reuters
LONDON, March 3 (Reuters) - Sales of Nigerian crude remained steady on Friday with a large overhang from the previous trading month, while sales of April-loading cargoes of Angolan crude to China had yet to take off.


* Spot activity has been limited this week as traders attended International Energy Week events in London.
* Angola's state oil firm Sonangol last offered three April-loading spot cargoes: Girassol at dated Brent plus $3.20, Cabinda at dated Brent plus $3.00 and Dalia at dated Brent plus 20 cents a barrel, a trader said.
* Vitol was still seeking a buyer for its March-loading cargo of Dalia.
* A little under 20 cargoes of March-loading Nigerian crude remained unsold, as tenders from South Asia have taken on less volume and competition from U.S. grades remains strong in Europe.


RELATED NEWS
* Oil prices rose by about 1% on Friday, recovering from an earlier slump after Reuters reported that the United Arab Emirates is not planning an exit from the Organization of Petroleum Exporting Countries (OPEC).
* An explosion on a Nigerian oil pipeline owned by Shell killed at least 12 people on Friday, authorities at the scene said, while members of the affected community in Emohua said they feared many more had died in the blast. (Reporting by Noah Browning; Editing by Kirsten Donovan)


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