W.Africa Crude — Cargoes struggling to clear, freight continues to weigh

Shell

14/10/2026 18:21

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LONDON,  Oct 14  (Reuters) - Cargoes of both Angolan and Nigerian crude were struggling to clear in the West African crude market due to high freight rates, a trader said on Wednesday, with differentials continuing to fall.
The market was facing a "combination of high freight costs, recovering Middle Eastern supply, and widening discounts," one trader said, with several Nigerian and Angolan cargoes struggling to clear. 
Offers for Angolan Dalia were heard at a discount of $20 to dated Brent on the Argus Open Market this week, another trader had said, much lower than the discount of $9.95 heard for the grade last week on the Platts platform.
Angolan differentials going lower were also weighing on the Nigerian grades, another trader said.
In the wider market, US oil major Chevron CVX.N is on track to deliver first gas from its offshore Aseng gas project in Equatorial Guinea in 2028, a senior company executive said.

(Reporting by Seher Dareen in London; Editing by Tasim Zahid)
((seher.dareen@thomsonreuters.com))