Nigerian crude overhang continues to clear gradually

The overhang of Nigerian crude has cleared further thanks to a pick-up in buying interest, traders said

The number of unsold cargoes from the August and September programmes has dropped to about 10, from close to 30 at the start of the week, one trading source said.

Qua Iboe was heard to be on offer at dated Brent plus $1.40 for October loading – a relatively firm level given that a prompt cargo was said to have traded this week at about dated plus $1.

Source: energy mix report

0

More Top Stories

Paul Bazia Elected Chairman of NUJ Rivers State Council
Breaking News: The Rivers Assembly Moves To Investigate the State Chief Judge, Simeon Amadi, For Alleged Age falsification
Governor Fubara Commissions Remodeled Okrika Grammar School, Reaffirms Commitment to Education and Development
Rivers Police Debunk Reports of Riots, Arson at Wike’s Residence Amid Rising Political Tensions
Bambam Opens Up About Life-Threatening Childbirth Experience
2nd Oil Facility Explosion Hits Rivers State in Less Than 12 Hours

Leave a Reply

Your email address will not be published. Required fields are marked *