W.Africa Crude - Differentials edge lower

LONDON, July 9 (Reuters) - The West African crude market was quiet on Thursday as demand waned and crude grades competed for market share against each other.

  • Nigeria's Bonga for August 3 to August 4 loading was bought at dated flat in the Platts window earlier this week, traders said, while TotalEnergies offered Angolan Djeno at minus $14 to dated Brent.

  • Differentials have been pressured by weak appetite from China and both U.S. and Latin American grades coming in cheaper to Europe, traders have said this week.

  • Additionally, the partial increase in flows from the Middle East was alleviating concerns of a shortage.

  • In the wider market, ExxonMobil and its partners will invest $1 billion in the Usan Infill Project offshore Nigeria, a development expected to add 40,000 barrels per day of oil production, Nigeria's upstream regulator said on Wednesday.


This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.