W.Africa Crude- Differentials steady as traders await Nigerian programmes

Eni SpA

26/05/2026 17:51

    LONDON, May 26 (Reuters) - West African crude differentials were stable on Tuesday, as market participants awaited Nigerian July export programmes. 
Price discussions in the West African crude market have been muted in recent sessions as traders take stock after a recent slide in differentials. 
West African crude differentials fell sharply from record highs in the past couple of weeks, weighed down by narrower refining margins and refinery run cuts, traders said.
Traders are collecting Nigerian July loading programmes in the coming days amid the lull in trade, one trader said. 
There was still an overhang of Angolan cargoes for June last week, traders said, with July Angolan trade yet to kick off.
Indian refiners turned to imports from Latin America and Africa after supplies from the Middle East were disrupted as the Israeli-U.S. war on Iran restricted shipping in the Strait of Hormuz, data provided by trade sources shows.
In upstream news, Italy's Eni ENI.MI said on Monday that it and partners Petroci and Vitol have given approval for the final investment decision on the third phase of the Baleine project in the Ivory Coast, marking a new stage in development of the country's largest hydrocarbon discovery.

 (Reporting by Robert Harvey in London
Editing by David Goodman
)
 ((robert.harvey@tr.com))