Angolan Dalia crude faces 20-dollar-a-barrel discount
By the AFREEQUE newsroom, based on Mercado
Angolan and Nigerian crude oil exports are struggling to find buyers as high shipping costs and the return of Middle Eastern supply weigh on their appeal. Angolan Dalia crude was offered at a discount of 20 dollars per barrel to dated Brent, compared with a smaller discount the previous week, according to operators cited by Reuters.
Angolan Dalia crude is trading at a discount of up to 20 dollars per barrel amid rising shipping costs and a recovery in Middle Eastern oil supply, according to market operators cited by Reuters and reported by Mercado. Angolan and Nigerian cargoes are struggling to find buyers in West Africa.
Buyers are demanding larger discounts as regional crude differentials narrow against international benchmarks. The pressure is also affecting Nigeria’s oil market amid high shipping costs, according to Reuters.
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Summary produced with the help of artificial intelligence tools, under AFREEQUE’s editorial responsibility.
