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


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.