W. Africa Crude-Demand remains lacklustre

PUBLISHED: Mon, 29 Mar 2021 16:18:09 GMT
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LONDON, March 29 (Reuters) – Spot demand was still low on Monday with an oil major offering unsold April cargoes to Europe in a rare move for the region while some straggling, prompt March cargoes were sold in the last week.

ANGOLA

* A few April loading Angolan cargoes remained.

* Sonangol was still offering two cargoes on a spot basis for May – a cargo of Saturno loading May 18-19 at dated Brent plus $1.00 and a cargo of Cabinda loading May 8-9 at dated Brent plus 80 cents a barrel.

* Chevron was offering May loading Angolan Cabinda at dated Brent plus 80 cents and BP was showing Angolan Saxi at dated Brent minus 50 cents a barrel.

NIGERIA

* The April overhang was about 20 cargoes.

* BP was Forcados at dated Brent plus 60 cents, and Escravos at plus 70 cents a barrel.

* Chevron offered two crude grades off a VLCC – Bonny Light at dated Brent plus $1.45 and Escravos at dated Brent plus $1.40 for Rotterdam or Augusta arrival May 7-13.

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* Shipping traffic through Egypt’s Suez Canal resumed on Monday after a giant container ship which had been blocking the busy waterway for almost a week was refloated, the canal authority said. (Reporting by Julia Payne; Editing by Krishna Chandra Eluri) ))

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