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OIL: Nigeria raises OSPs for September

OIL

Nigeria raised its OSPs for Qua Iboe and Bonny Light crude in September to 5-month highs, Bloomberg said.

  • Qua Iboe rose its OSP to Dated Brent + +$3.25/b, vs +$1.54/b in August.
  • Bony Light’s September OSP rose to Dated Brent +$2.82/b, vs +$1.27/b in August.
  • WAF is expected to capitalise on the disrupted cargoes from Libya, providing an alternate source for lighter sweet grades for Med buyers.
  • The amount of crude off WAF in stationary tankers hit its highest since May 2023, Vortexa said.

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