By Ukumbi Afrika Trading activity indicates continued weakness in differentials for West African crude grades as increased supply and easing geopolitical tensions weigh on prices.
Market participants say improved export flows from the Middle East have contributed to a short-term oversupply, pushing benchmark oil prices lower. Recent market indications also showed lower offers for Angolan crude grades including Hungo and Kissanje.
Analysts will continue to monitor global supply levels and demand trends to determine whether pricing pressure persists in the coming weeks.
Source: Reuters. Reporting by Alex Lawler and Robert Harvey. Editing by Jonathan Ananda.