Sellers of Nigerian crude grades seek higher premiums

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The Boa Sub C work boat, top, operates near the Q4000 drilling rig at the site of the Deepwater Horizon incident in the Gulf of Mexico Friday, July 16, 2010. The wellhead has been capped and BP is continuing to test the integrity of the well before resuming production. (AP Photo/Dave Martin)

Sellers of Nigeria’s Bonny Light and Qua Iboe are being offered in excess of dated Brent plus $1.00 a barrel, a trader said, higher than last reported on June 30 as sellers have become more bullish on the prospects for light, sweet grades.

  • An explosion at the Gbetiokun oil field in southern Nigeria’s Niger Delta region during the installation of a ladder on a platform killed seven people, the state oil company said on Wednesday. It wasn’t immediately clear if the incident had affected oil output or exports.

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