LONDON, July 10 – Nigerian crude differentials were steady to slightly higher on Monday, supported by a smaller overhang of cargoes, while sellers of remaining Angolan cargoes targeted higher numbers.
* Traders had said there was a sizeable overhang of Nigerian crude. Some of this has cleared in part due to Asian buying tenders and at least one company taking cargoes into its own refining system.
* At least 30 cargoes of August-loading crude were thought to be available, traders said, down from Thursday’s estimate closer to around 40.
* Qua Iboe was offered at dated Brent plus 90 cents, a trader said, 5 cents up from an offer reported on Friday. Fair value was pegged at around dated plus 50 cents, a trader said, up from below that level on Friday.
* August-loading Angolan cargoes were nearly sold out. Cargoes of Mondo, Pazflor, Dalia and Nemba are thought to still be available.
* Dalia was offered at dated Brent plus 50 cents, a trader said, up 10 cents from the last known offer level.
* Indian refiner, HPCL, has re-issued a mini-term tender it was running last week, a trader said, having not bought any cargoes in the original tender.
HPCL was looking to buy as much as 4 million barrels of Nigerian crude every three months through March 2018, Reuters reported on June 30. (Reporting by Alex Lawler, editing by David Evans) ))