W.Africa Crude - Market participants watch supply disruptions in other regions
LONDON, July 22 (Reuters) - West African crude oil differentials were stable on Wednesday as market participants weighed supply disruptions in other regions and their possible impact on West African grades.
Earlier this week, traders said that some grades were being offered at higher levels.
Oil markets are contending with renewed supply concerns in the Middle East, after the Iran-aligned Houthis declared a naval blockade on Saudi Arabia, adding a new front in the Red Sea to the U.S. war with Iran after the months-long closure of the Strait of Hormuz has already roiled oil markets this year.
Kazakh light sour CPC Blend disruptions bring West African and North Sea "firmly into play" in the Mediterranean, Kpler analysts said in a note.
However, West African grades might find competition in the Mediterranean from Libyan supplies, one trader added.
The Dangote refinery's restart should help tighten up a relatively weak West African crude market, Sparta Commodities analyst Aaron Kildow said.
Nigeria's Dangote refinery has been undergoing maintenance work since July 10 due to issues with a steam generator, Kpler said, reducing run rates at its crude-processing and gasoline-producing units.
