Nigerian crude cargoes find buyers as unsold shipments drop

Nigerian crude cargoes are still finding other buyers as the number of unsold shipments has fallen from Friday. At least 30 Nigerian cargoes are left from the December programme, lower than 35 as estimated on Friday.

Cepsa was heard to have bought the Erha cargo loading Dec. 5-6 that Vitol sold last week. One trader estimated the deal was done at around dated Brent plus $1.20.

Offer levels were stable. Qua Iboe was last heard to have been offered at dated Brent plus $1.75 a barrel, which one trader saw as far above market value.

Source: Reuters

Share

SUBSCRIBE TO LATEST ENERGY NEWS

Read the latest energy industry news and researched articles
for oil and gas, power generation, renewable energy, events and more...