Indian Oil Corp avoided buying West African grades in its latest tender, sources said on Friday, a step that could further weigh on differentials after the easing of Middle Eastern supply risk this week.

IOC appears to have bought Murban crude from the UAE in the tender, one source said.

* Angolan Girassol crude was last offered at dated Brent plus $3.50 and Nemba at dated Brent plus $1.70, on an FOB basis. There was no change in those offers on Friday, a trader said.

A drop in freight rates and in the Brent market structure since the Israel-Iran ceasefire has made the cost of delivered barrels cheaper than before the conflict, even though FOB offers were unchanged.
Source: Reuters