W. Africa Crude-Nigerian likely to slip, Angolan lingers
Nigerian crude differentials are likely to weaken due to competing supplies, traders said on Friday, while Angolan crude remained in ample supply for August loading.
* The lifting of force majeure on exports of Libyan crude will likely weigh on sold prices, traders said.
* Sales of U.S. crude into Europe have also mopped up some of the buying interest for Nigerian grades, traders said.
* Nigerian offers were not heard to have come down on Friday nonetheless, with sellers of Bonny Light and Qua Iboe still seeking more than dated Brent plus $1.00.
* Chinese buying of West African oil has been relatively slow during this trading cycle.
* About 12 cargoes of August-loading crude are still available including cargoes that their owners are offering back to the market, meaning there has been little if any trading since Wednesday.
* Dalia crude was last offered for around dated Brent plus $2 while Girassol has sold out its small handful of cargoes for August with sale prices at about $3 above dated Brent.
Source: Reuters (Reporting by Alex Lawler, editing by Louise Heavens)