LONDON (Reuters) – Strong demand for Angolan and Congolese crude pushed offers higher on Friday but trading in Nigerian crude was more muted, traders said.
* Congolese Djeno was offered around dated Brent plus $1.70 and Angolan Cabinda at dated Brent plus $3.00.
* Chinese refiner Unipec last re-offered its cargoes of Angolan crude at the following levels: Dalia at dated Brent plus $2.10, Kissanje at plus $2.70, Plutonio at plus $2.30, Girassol at plus $3.30 and Saturno at plus $2.00.
* The rare move was seen by traders as a way to capitalize on an uptick in demand as buyers largely shun Russian crude.
* India’s IOC closed a buy tender for crude on Friday for early May loading crude but results did not immediately emerge.
* The refiner spurned Nigerian crude in its last tender and sales from Africa’s top exporter have yet to lift off two weeks into the trading cycle.
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* The European and Atlantic physical crude market has been brought to a near standstill by a jump in prices and differentials as well as extreme volatility, trading sources said, following Russia’s invasion of Ukraine.
* Chinese refiners are paying for Russian crude oil using cash transfers to maintain imports from Russia’s Far East, as banks shy away from financing the oil because of sanctions, sources with knowledge of the matter said.
(Reporting by Noah Browning in London; Editing by Matthew Lewis)
