W. Africa Crude-Demand stays healthy for Angolan; Mercuria offers Forcados
LONDON, (Reuters) - Angolan cargoes continued to sell swiftly, thanks largely to demand from Chinese refiners, while trading house Mercuria struggled to find a buyer for early November-loading Nigerian grades.
NIGERIA AND ANGOLA
Trading house Mercuria offered a 1-million barrel cargo of Forcados for loading Nov. 8-9 at a premium of $1.80 to dated Brent, up from around $1.75 on Tuesday, although no buyers emerged.
Only a few of the smaller Nigerian loading programmes, such as
The Angolan November programme is down to around a dozen cargoes, from a total of 46, down from closer to 18 the previous day, traders said.
Nigeria’s main unions will begin an indefinite nationwide strike on Thursday over the minimum wage, after talks with the government broke down, the leader of an umbrella
U.S. crude oil stockpiles rose last week as refineries sharply reduced output for seasonal maintenance, while gasoline stocks increased and distillate inventories fell, the Energy Information Administration said on Wednesday.
Oman crude futures on the Dubai Mercantile Exchange touched their highest in four years at just above $90 a barrel on Wednesday, overtaking ICE Brent LCOc1 for a second session, data from the exchanges showed.
TENDERS
Uruguay’s state-run oil firm ANCAP is seeking to buy 1 million barrels of a medium to light crude for delivery Nov. 23-27 at Jose Ignacio. The tender closes later on Wednesday. (Reporting by Amanda Cooper; Editing by Adrian Croft) ))
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