off-the-wire

W. Africa Crude-South Asian tenders circulate

Kitco Media
By Reuters
Published:
Updated:
Reuters
LONDON, April 5 (Reuters) - Trading was muted for some grades of West African oil on Wednesday as two South Asian tenders circulated amid depressed demand in Europe as a French refinery strike grinds on.


* Indonesia's Pertamina issued a tender for June-arriving crude due to close on Thursday.
* India's IOC was also running a tender for June-arriving oil set to close this week.
* Both refiners picked up several million barrels of West African crude in their latest tenders and have been consistent mainstays for demand as European buying has ebbed.
* Differentials for light sweet Nigerian crude have been especially dented as Azeri and American crude has helped edge it out of the European market.
* Qua Iboe crude was last heard offered at around dated Brent plus $1.60 a barrel, traders said.
(Reporting by Noah Browning; Editing by Shilpi Majumdar)


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