W.Africa Crude - Freight rate spike weighs on differentials
XLE•September loading programmes in focus
Elsewhere in the market, attention was focused on emerging September loading programmes. Nigeria's Qua Iboe stream will load six cargoes, a loading plan showed.
Freight rate spike pressures West African crude differentials
LONDON, August 21 (Reuters) - West African crude oil differentials were under pressure on Friday from a jump in freight rates as a result of Middle East supply disruptions, traders said.
- Freight rates on some key routes for West African crude have moved back towards the multi-year highs reached during the early stages of the U.S.-Israeli war with Iran, according to Riverlake data.
- As a result, differentials for West African grades are down by at least $2 a barrel, one trader said.
