W.Africa Crude-Exxon offers Hungo again

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LONDON, June 19 (Reuters) - West African crude oil differentials fell again on Friday as ample supply in physical markets is met with the possibility of increased exports if Strait of Hormuz traffic normalises.

  • Exxon offered a cargo of Angolan Hungo with August 6 to 7 loading dates at dated Brent minus $4.05 per barrel on the Argus Open Markets platform on Friday, one trader said.

  • Meanwhile, Nigeria's Dangote oil refinery recently bought a cargo of Cabinda crude at a similar price, the trader added.

  • Dangote also purchased CJ Blend, another crude trader said, but details of that deal were scant.

  • Lacklustre crude demand in Asia has weighed on Angolan crude grades, traders said, while further downward pressure could come for the August trading cycle if flows through the Strait of Hormuz normalise towards pre-Iran war levels.


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