Nigerian crude grades offered at high differentials

Nigerian crude oil differentials were underpinned on Tuesday due to recent outages in the country but tenders continued to dominate activity.

Less than 10 June-loading cargoes of Nigerian crude were still available.

Nigeria’s major Trans Forcados pipeline resumed normal operations on Friday after being shut down for a few days due to a nearby fire.

On Friday, Total said that oil production had resumed at a key field feeding the Amenam grade but force majeure was still in place.

Differentials for Nigerian grades were underpinned by the outages, with Bonny Light being shown at dated Brent plus $2.95-$3.15 a barrel and Amenam at dated Brent plus $1.25 a barrel.

 

Source: Reuters

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