off-the-wire

W. Africa Crude-Nigerian weaker, one more June Qua cargo added

Kitco Media
By Reuters
Published:
Updated:
Reuters
LONDON, May 9 (Reuters) - Nigerian crude differentials were weakening on Tuesday due to ample supplies, traders said, despite June supply of Qua Iboe currently looking lower than a typical month.


* Nigerian Qua Iboe is set to load three cargoes in June, two of which were delayed from May, a trader said. This is less than usual - five cargoes were originally planned in May - and follows a force majeure that was in place for part of April.
* Traders said the Nigerian market is still well supplied, keeping differentials under pressure.
* Bonny Light: cargoes for loading in late May to early June are being offered at between dated Brent parity to dated Brent plus 80 cents, a trader said, down from plus $1.30 a week ago.
* In the Angolan market, most June cargoes have been sold and traders say about seven are still looking for buyers. (Reporting by Alex Lawler; Editing by Alexander Smith)

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

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