off-the-wire

W. Africa Crude-Nigerian oil firms as French refineries reopen

Kitco Media
By Reuters
Published:
Updated:
Reuters
LONDON, April 12 (Reuters) - Offers of Nigerian crude were rising on Wednesday as sellers were emboldened by the post-strike reopening of major refineries in France.


* Offers of Nigerian Qua Iboe crude cargoes are around dated Brent plus $2.25 for end-April loading and plus $3.00 for mid-May, one trader said. This is up from offers reported on Tuesday around dated plus $1.30.
* The Gonfreville refinery run by TotalEnergies in northern France began its resumption in operations on Tuesday, the company said, marking the last of its four domestic refineries to restart after a month-long strike.
* However, traders said there was an overhang of Nigerian cargoes, which could limit upward pressure on differentials.
* Activity appeared subdued in the Angolan market. State oil company Sonangol sold all of its May-loading crude before Easter, one trader said.
* The June loading programme for Angolan crude is due out by the end of the week or early next week. (Reporting by Alex Lawler Editing by David Goodman )

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

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