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W. Africa Crude-Pertamina seeks crude, Nigerian offered high

Monday, 15 July 2024 | 00:00

Nigerian crude oil was offered at their highest levels in about a month as sales picked up, while Indonesia’s Pertamina sought cargoes in a buy tender.

Healthy sales pushed differentials for Nigerian crude higher with flows going to Europe and the United States.

Escravos and Forcados were offered at around dated Brent plus $3, while light sweet Qua Iboe and Bonny Light were offered at above dated Brent plus $2.

At least 15 cargoes of August-loading Angolan crude remain unsold, in a slow-selling month as Chinese buying remains muted ahead of new export plans awaited next week.

Indonesia’s Pertamina was running a buy tender for September arrival, due to close next week.
Source: Reuters (Reporting by Noah Browning; Editing by Shailesh Kuber)

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