Nigerian Crude Again Supported by BP Bids

Nigerian crude oil remained supported on Monday by demand from BP, which again bid in the Platts window.

BP bought Qua Iboe from Vitol a cargo loading Oct. 17-18 at dated Brent plus $1.65 and bid at dated Brent plus $1.75 for other loading dates. This was higher on average than deals reported on Thursday and Friday.

One trader estimated the number of unsold cargoes had come down to around the high 20s to low 30s as more crude found buyers.

 

Source: Energy Mix Report

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