W. Africa Crude-Sellers hike offers on Middle East tensions

Reuters06-17

W. Africa Crude-Sellers hike offers on Middle East tensions

LONDON, June 16 (Reuters) - Offers of some West African grades have increased in the last couple of days, traders said, as conflict in the Middle East stirs concern about supply disruption.

* N'Kossa crude for July loading was offered at dated Brent plus $1.25 a barrel and Nemba also for July was also offered at that level, a trader said.

* Offers for some other grades were also hiked, but a rise in freight rates and a firming of the Brent market structure does not support higher FOB differentials, the trader said.

* Some sellers were not showing offers, he added, given the volatile political situation and its impact on the market.

* Brent crude prices dropped over 1% on Monday after reports that Iran is seeking an end to hostilities with Israel, easing fears of a disruption to crude supplies from the region.

* Elsewhere, loading programmes are in focus with Angola's loading schedule for August due imminently.

(Reporting by Alex Lawler; Editing by Shailesh Kuber)

((alex.lawler@thomsonreuters.com; +44 207 542 4087; Reuters Messaging: alex.lawler.reuters.com@reuters.net))

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