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W. Africa Crude-Nigerian offered higher, Girassol offer trimmed

Tuesday, 30 January 2024 | 01:00

Offers for Nigerian crude were higher than previously heard on Monday on solid demand, while Angolan Girassol was being offered slightly lower.

Light sweet Nigerian Bonny Light was offered at dated Brent plus $2.20 a barrel for an end-February cargo, up 20 cents from an offer reported on Friday.

Heavier grades like Escravos and Forcados were offered higher. Escravos was offered at around dated Brent plus $4.50 a barrel, up $2.00 from Friday, while February-loading Forcados was being offered at a premium of $1.00 to the official selling price, a trader said. That would be dated Brent plus $4.75 using the February OSP.

On Angolan crude, state oil firm Sonangol was heard to have only a cargo of Girassol left to sell among its March spot cargoes.

This was offered at dated Brent plus $2.60, a trader said, down 10 cents from an offer reported on Thursday. It was not possible to verify the information with Sonangol directly.
Source: Reuters (Reporting by Alex Lawler; Editing by Shilpi Majumdar)

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