LONDON Feb 1 (Reuters) – * Chinese New Year holidays have lightened demand this week, particularly for Angolan grades. A handful of March loading Nemba and Pazflor cargoes were still looking for a home.

* Demand in the United States was also affected by the widening of the WTI-Brent spread that has eroded arbitrage opportunities for west African barrels.


* Shell and Lukoil were offering cargoes of March loading Nigerian Erha at around dated Brent plus $1.30 a barrel.

* Trade in March loading Nigerian Qua Iboe was muted owing to fresh loading delays. The uncertainty has recently pushed up offer prices by some 50 cents a barrel to over dated Brent plus $1.00 a barrel.

* ExxonMobil was offering a mid-February cargo of Qua Iboe at around dated Brent plus 80 cents.

* Total offered a cargo of Nigerian Akpo loading March 6-7 and Qua Iboe at dated Brent plus $1.20 for March 19-20.

* Total also offered a cargo of Angolan Pazflor at dated Brent minus 30 cents, loading March 30-31, and a cargo of Gabonese Rabi Light on a delivered basis, loading March 27-28.


* Indonesia’s Pertamina was running a supply tender to buy March-loading crude oil with the results expected to surface on Thursday.


This site uses Akismet to reduce spam. Learn how your comment data is processed.