Spot activity was slow on Tuesday because of a number of tenders, while high stocks building up in major buyer China and seasonal refinery maintenance depressed demand.
* Traders were still waiting for Nigeria’s state firm NNPC to issue its annual crude contract list, which was expected to emerge this week.
* Angola’s state oil firm Sonangol was still offering three Dalia cargoes at dated Brent minus 90 cent a barrel, Sangos at dated Brent minus 40 cents and Saturno at dated Brent minus 75 cents.
* May loading cargoes of Nigerian Qua Iboe were being offered a dated Brent plus $1.70-1.80 a barrel, higher than April cargoes, while Nigerian Forcados was being shown at dated Brent plus $1.80-1.90 a barrel.
TENDERS
* Indian state oil refinery IOC issued a tender to buy oil loading in early June, including a variety of West African grades. It closes next week.
* Indonesia’s Pertamina was also running a tender to buy oil that closes next week.
RELATED NEWS
* Yemen’s Houthis hit a Saudi oil tanker in the Red Sea off the main port city of Hodeidah, the Saudi-led coalition that is fighting the Iran-aligned group in Yemen said on Tuesday.
* A backlog of crude cargoes has built up off the coast of China, limiting prospects for new shipments to the world’s largest oil importer, trading and shipping sources said. Reuters
