off-the-wire

W. Africa Crude-Differentials under pressure, programmes in focus

Kitco Media
By Reuters
Published:
Updated:
Reuters
LONDON, March 20 (Reuters) - West African crude differentials remained under downward pressure on Monday as a French refinery strike curbs demand, ahead of the start of the trading cycle for May-loading cargoes.


* About four cargoes of Angolan crude remained from the April programme, a trader said, down from six heard on Friday.
* State oil firm Sonangol has yet to show spot offers for May-loading cargoes. Angola's loading programme, which emerged last week, has 33 cargoes in May, three less than April's.


* Nigerian crude differentials came under downward pressure last week from reduced demand due to French refinery strikes.


* Around 20 April-loading Nigerian cargoes are thought to be available ahead of May loading programmes, which are due imminently.
* Nigerian Qua Iboe was last offered at dated Brent plus $2.00, a trader said, steady from Friday and down almost $2 from the Refinitiv Eikon assessment of a week ago.
(Reporting by Alex Lawler; ; Editing by Shilpi Majumdar)

Messaging: alex.lawler.reuters.com@reuters.net))

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