Market Outlook
Press

Nigeria’s Dangote plant buys US oil for first time in 3 months

Published20 NOV 24 - 16:07 Reading time  minutes

“Earlier this week though, Sparta said in a note that cheaper shipping costs were the main factor in WTI Midland landing cheaply into Europe recently.”

Bloomberg, November 20, 2024 – Nigeria’s Dangote refinery has bought US oil for the first time in three months, purchasing about two million barrels of WTI Midland from Chevron Corp. Sparta noted that cheaper shipping costs are influencing this decision.

Read the full article here.

 

Author

Sparta

Rate this article

Average rating / 5. Vote count:

No votes so far! Be the first to rate this post.

Continue reading

  • New
  • Analyst brief
  • Freight

TC7 SEA MR: Tonnage triples in three weeks as short-haul voyages and closed arbs drive continued rate weakness

SEA MR vessel supply in the seven-day ahead window is materially long at 33 vessels against a...

16 JUN 26 - 10:53

  • New
  • Analyst brief
  • Freight

TC2 NWE MR: Busy fixture start to the week but supply overhang keeps the outlook neutral

NWE MR vessel supply in the seven-day ahead window stands at 19 vessels against a 90-day moving...

16 JUN 26 - 09:30

  • New
  • Analyst brief
  • Cross Barrel

Contango craziness

Dubai swaps are in contango at the prompt and Brent spreads are sub-$1/bbl. That’s for sure not...

16 JUN 26 - 09:06

  • New
  • Event

Summer drinks – co-hosted by Sparta and S&P

We’re bringing the Geneva commodities market together again this summer — and this year, we’re excited to host our first-ever partner party with S&P Global Energy. ​You can read about the partnership here: S&P Platts benchmarks, and market insights are now accessible inside the Sparta platform ​To celebrate this partnership, join us for an informal evening of drinks, networking, and market conversation with traders and analysts from across the sector.

15 JUN 26 - 15:29

subscribe_cta_image

Real time alerts, set to your specifications