Crude Oil Seen Weakening On Ample Supply, High Freight
West African crude price differentials were expected on Monday to come under downward pressure from ample remaining November-loading cargoes and high shipping costs. Nigerian cargoes have sold relatively slowly and around 35 of the 63 November cargoes are still available, a trader said. Qua Iboe was offered at about dated Brent plus $1.50, a trader […]
West African crude price differentials were expected on Monday to come under downward pressure from ample remaining November-loading cargoes and high shipping costs.
Nigerian cargoes have sold relatively slowly and around 35 of the 63 November cargoes are still available, a trader said.
Qua Iboe was offered at about dated Brent plus $1.50, a trader said, in line with an offer on Friday. Sold prices are likely to be closer to dated Brent plus $1.
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