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Trade of Nigerian crude slow as traders await India’s IOC tender results

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Trading of Nigerian cargoes have been sluggish as traders awaited the results of a tender from India’s IOC, Reuters reports.

Strengthening demand for gasoline had helped clear some cargoes and support margins for the product, and thus lighter grades of crude oil.
Bonny Light, Escravos and Qua Iboe were all offered at around dated Brent plus $1.00 a barrel. Results from a tender to buy crude loading June 1-10 from Indian Oil Corp. are expected on Friday.

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