November 15, 2019 / 5:01 PM / 24 days ago

W. Africa Crude-Nigerian Qua, Bonny at 2013 high on solid demand

    LONDON, Nov 15 (Reuters) - Niegrian crude remained at strong
levels on Friday, with some grades like Qua Iboe having sold at
multi-year high premiums to dated Brent due to strong demand.
    * High differentials for comparable North Sea and
Mediterranean grades have supported Nigerian barrels, and
traders said demand from Europe has been robust.
    * Exxon was heard to have sold its last Qua Iboe cargo which
was offered in excess of dated Brent plus $4.00 a barrel. Qua
has not been valued at a premium of $4 since 2013.
    * About 25-30 Nigerian cargoes are available for sale, not
seen as an excessive volume given that they increasingly linger
until programmes for comparable Mediterranean and North Sea
grades emerge.
    *  Bonny Light was last being offered at $3.50 above dated
Brent and is assessed at its highest differential since 2013.

    * About six cargoes for December loading are still unsold.
    * January's loading schedule is expected imminently.

 (Reporting by Alex Lawler; Editing by Louise Heavens)
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