off-the-wire

W. Africa Crude-Sonangol sells Saturno, Nigerian supply ample

Kitco Media
By Reuters
Published:
Updated:
Reuters
LONDON, March 31 (Reuters) - Angola's state oil firm has sold another May-loading cargo, traders said on Friday and an overhang of Nigerian crude was heard to be clearing although supply remains ample amid weak demand from Europe and China.
* Angola's state oil company Sonangol sold its cargo of
Saturno which was offered at dated Brent minus $3.50. A trader said the cargo is likely going to Asia.
* Girassol: Sonangol still offered its cargo at dated Brent plus $2.50, after trimming the asking price earlier in the week.
* Nigerian crude differentials remained under pressure as French refinery strikes squeezed demand.


About 15 to 20 cargoes of April-loading Nigerian crude are available, a trader said, a large amount for this point in the monthly trading cycle, although less than the 30 reported as looking for buyers on Tuesday.
* No new offers were heard on Friday. Qua Iboe was last on offer at dated Brent plus $1.60. (Reporting by Alex Lawler; Editing by Kirsten Donovan)

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