W.Africa Crude - Market holds steady

LONDON, July 29 (Reuters) - West African crude oil differentials remained stable on Wednesday as oil futures rose nearly 8%.

• Brent futures prices climbed as airstrikes resumed in the Middle East and a U.S.-owned gas storage tanker at Egypt's Mediterranean port of Damietta was hit by a drone, adding to worries about dwindling supply as U.S. government data showed crude inventories fell to multi-year lows. O/R
• There were a lot of unsold Nigerian cargoes, two traders familiar with the market said.
• Last week traders said the market was awaiting developments after an escalation in hostilities in the Middle East.
• West African, Brazilian and Guyanese crudes could be substitutes for disrupted Middle East supplies, traders have said.