Sweet grades prove a mixed bag

摘要

1.The rise in North Sea Dated values,coupled with the availability of cheaper alternatives in Europe,has been denting interest in Nigerian streams.Nigerian state-owned NNPC has increased the official prices of its key grades by more than $1/bl in July,whereas the market had been anticipating increases of 60-70￠/bl.A backwardated structure along the Brent forward curve-prompt premiums to forward values-was eroding the economics of long-haul shipments,hampering Asia-Pacific demand for west African crude.