W. Africa Crude-Trading muted as market awaits tender results

Kitco Media
By Reuters
Published:
Updated:
Reuters
LONDON, May 2 (Reuters) - Trading of oil from West Africa was relatively muted on Tuesday amid holidays in China and as results of tenders were awaited.



* Several days of Labour Day holidays was pausing buying activity in China, slowing the relatively quick start to trade there for June-loading crude, especially from Angola.
* Angola's state oil company Sonangol last offered a cargo of Kissanje crude at dated Brent plus $1.20
* Official Selling Prices (OSPs) for Nigerian crude in May emerged, with slides largely downward to reflect stiff competition in sales to Europe from the United States and reduced demand from French refinery strikes.
* Offers levels for June-loading cargoes were roughly steady from last week, with Bonny Light offered at dated Brent plus $1.30.
* Indonesia's Pertamina closed an offer for term cargoes for one month each beginning in July and ending in September, but results had yet to emerge. (Reporting by Noah Browning; Editing by Alexander Smith)

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