April 1, 2020 / 5:27 PM / 2 months ago

W. Africa Crude-Sell tender awarded, Angolan diffs deeply negative

    LONDON, April 1 (Reuters) - A flurry of grades were on offer
to largely unresponsive refiners with the exception of Chinese
buyers on Wednesday.
    European interest stalled as they have nearby and very cheap
Mediterranean grades to mop up.
    
    * More than 20 cargoes of April loading Nigerian were still
available even though May trading should be full in swing.
    * Angolan Cabinda was offered at minus $3 a barrel;
Kissanje, Sangos and Mondo at minus $4 and Zafiro at minus $1
and Mostarda at minus $5.
    * Nigerian indications were still above official selling
prices with little evidence of trade happening. Qua Iboe was
shown at minus $3, Erha at minus $2 and Brass River at minus
$2.50.  
    * "It won’t trade though. Levels are whatever someone will
pay, it's so disjointed," one trader remarked.
    * Angola's state firm Sonangol was still offering Cabinda,
CLOV, Dalia and Girassol.
    * Perenco sold a cargo of May-loading Djeno via tender to
China's Unipec.
    * Kazakh CPC Blend was trading between minus $9 and $10 a
barrel while Russia's Siberian Light was between minus $5 and $6
a barrel.                         
    * Oil traders are storing as much as 80 million barrels of
oil on tankers at sea, with further ships being sought as land
storage sites fill up fast due to a global glut of stocks,
shipping industry sources say.             

 (Reporting by Julia Payne; Editing by Jane Merriman and Ken
Ferris)
  
 
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