W. Africa Crude-Ample supply weighs on differentials
LONDON, March 27 (Reuters) -West African crude differentials stayed under downward pressure on Monday amid ample supply and weaker demand.
* Strikes in France have led to the closure of some refining capacity. Normally, Europe including France's large refining system helps to absorb overhangs of West African crude.
* There are a lot of offers of West African crude at present, traders said, with those looking to sell in recent days including Total, Eni and Glencore.
* Angola's state oil firm Sonangol on Monday was still offering two spot cargoes in May: a Gimboa at dated Brent minus $4.10 and a Girassol at dated Brent plus $3.00. The Gimboa offer was trimmed 60 cents from Friday.
* Nigerian Qua Iboe remained on offer at dated Brent plus $1.80 a barrel, a trader said.
Reporting by Alex Lawler; Editing by Shilpi Majumdar
WEST AFRICA CRUDE OIL DIFFERENTIALS AND OUTRIGHT PRICES: 0#BFO-DIF 0#C-E Bonny Light BFO-BONBON-E Cabinda BFO-CABCAB-E Forcados BFO-FOCFOC-E Qua Iboe BFO-QUAQUA-E CRUDE ARBITRAGE STORIES O/CRUDEARB CRUDE OIL TRADES CRU/T NORTH SEA CRUDE REPORT CRU/E MEDITERRANEAN CRUDE CRU/MED 7 W Africa Asia crude exports, monthly O/WAFRICA1 New African oilfields AFR/NEW ENERGY speed guide CRUDE/1 crude speed guide NYMEX crude 0#CL: ICE crude 0#LCO:OPEC NSEA North Sea CRU crude oil PROD oil products DRV derivatives PRO/E European products O/L Latest ICE O/N Latest NYMEX OILOIL NYMOIL, IPEOIL, OILSPD, OILARB CRDWLDPRODEUR))
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