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W. Africa Crude-More Nigerian supply disrupted – Reuters

HomeNewsW. Africa Crude-More Nigerian supply disrupted – Reuters
W. Africa Crude-More Nigerian supply disrupted – Reuters
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LONDON, May 11 (Reuters) –

* A force majeure on Nigeria’s Bonny crude exports and signs of more U.S. buying interest could lend support to other Nigerian grades.

* Angolan crude differentials were stable and traders said re-offers could boost the number of cargoes available.


* A cargo of June-loading Agbami was sold to a customer in the United States, a trader said.

* Qua Iboe was last offered at dated Brent plus $1.60, a trader said, stable from Tuesday.

* Shell’s Nigerian venture declared force majeure on Bonny Light exports after closing the Nembe Creek Trunk line for repairs after a leak.

Before this, other outages had pushed Nigerian output to the lowest since at least 2007, according to Reuters estimates and International Energy Agency data.


* There are about 10 June-loading cargoes left, according to estimates from traders, although re-offers could boost that to 12 or 13.

* Demand for medium and heavy crudes in the U.S. Gulf is likely to absorb some, supporting the market.


* Indian Oil Corp. is running a tender for crude loading in late July loading, traders said. The result is expected to emerge on Thursday.

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