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Diffs under pressure due to French strikes

Spot activity was muted on Friday owing to competition from cheaper alternatives and sagging demand in part due to French refinery strikes.

Angola’s May loading programme emerged with 33 cargoes compared with 36 in April. (O/LOAD)

About six cargoes of Angolan crude remained from the April programme along with more than 20 Nigerian cargoes.

Nigeria’s Qua Iboe grade was being offered at lower levels than earlier in the cycle at around dated Brent plus $2.00.

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Strikes against the French government’s planned pension reform entered a second week on Wednesday, disrupting maintenance at nuclear reactors, hitting liquefied natural gas (LNG) prices and blocking some shipments from refineries and depots.
Source: Reuters

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