U.S. demand for Nigerian crude weakens as Harvey impacts on refineries

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Nigerian crude differentials were steady to lower on Thursday and some traders said weaker U.S. demand because of the outage of a sizeable chunk of U.S. refining capacity after Tropical Storm Harvey could weigh on the market, Reuters reports.

Qua Iboe was said to have been offered at dated Brent plus $1.65, a touch weaker than heard on Wednesday. The cargo was heard to have traded but further details were not available.

U.S. demand has waned because of the storm, a trader said, which could put downward pressure on differentials. There were just over 50 cargoes in total available from the September and October programmes, traders said.