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W.Africa Crude-Differentials ease amid high freight costs

West African crude oil differentials narrowed as high freight costs continued to weigh on the market’s competitiveness.

* Traders are still waiting for term allocations, said a trade source.

* Freight costs to ship to Asia have been elevated for several months and continue to weigh on the market. Offers are expected to ease further to accommodate this, the source said.

* Among offers was Angola’s Hungo crude at dated Brent minus $1.70.
Source: Reuters



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