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West Africa: Focus still on March cargoes

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The focus in the West African market remained on shifting unsold March cargoes with offers of April-loading Angolan and Nigerian crude still in short supply.

Less than 10 cargoes of all West African grades remain available for March, of which most are Nigerian grades.

Earlier this week, traders viewed value for Nigerian Forcados at dated Brent plus $2.50, and Qua Iboe at dated plus $1.50 or a touch higher.

Angolan Palanca was last offered for March 29-30 at dated Brent plus $2.25 a barrel, a trader said, down from the last offer heard.

Angolan Dalia was pegged at dated Brent plus $1.50 and CLOV at dated Brent plus $2.50.
Source: Reuters

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