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Sonangol sells last cargo, Nigerian offers rise

West African crude markets looked on Thursday to be finding further support from brisk demand as well as tight supply.

Angolan state oil firm Sonangol sold its last March-loading spot cargo, a Girassol last offered at dated Brent plus $1.70, a trader said. Another trader said the buyer was Chevron.

Chevron was no longer offering its March-loading Cabinda which was shown at dated Brent plus $1.20 earlier this week, a trader said. Whether or not it was sold was not known.

Global tightness in light sweet crude has helped to buoy offers for Nigerian crude. Qua Iboe was heard to be on offer for a premium close to dated Brent plus $4.00 a barrel, up from around dated plus $3.50 heard on Monday.

Uruguay’s ANCAP has a buy tender running for a March 26-30 arrival cargo. The tender closed on Wednesday.

Cameroon’s SNH issued a sell tender for March-loading cargoes of Lokele and Kole. The tender closes on Feb. 7.

Other tenders from South Africa’s Sasol and Indonesia’s Pertamina may be on hold, a trader said.
Source: Reuters

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