Nigeria’s NNPC offers September crude cargoes amid stable prices

Nigeria’s NNPC is offering September-loading crude cargoes into a market where West African differentials are steady but underlying pricing remains supported by supply disruptions in the Middle East. The article highlights two 950,000-barrel cargoes — Cawthorne and Bonny Light — and notes that roughly 20 August-loading West African cargoes are still available. Traders say sellers have been lifting offers as shipping and supply risks persist around the Strait of Hormuz and the Red Sea, while Indian buyers are increasing purchases of West African and Latin American grades to offset reduced Middle Eastern supply. For crude markets, the tone is firm-to-bullish near term, with stable spot differentials but potential upside pressure if geopolitical disruptions continue.