Renewed Indian buying, potential US arbitrage opportunities and an expected rise in seasonal gasoline demand supported Nigerian crude values. State-run Indian refiner IOC bought 6mn bl of west African crude, a larger quantity compared with its recent tenders. Of this, 4mn bl came from Nigeria, including a cargo of Qua Iboe. US buying interest has reappeared, with two June cargoes of Angolan Dalia bound for the US Gulf coast.
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