Differentials
for Nigerian crude oil held above the lows set last month, supported by higher
refining margins in Europe, traders said on Friday.
Nigerian
crude oil is favoured by European refiners as it is light and sweet in quality,
suiting the relatively unsophisticated plants in the region.
Poor
margins and sluggish demand in Europe had pushed differentials of the benchmark
Qua Iboe grade of crude oil to below $1 above dated Brent for some August and
September barrels, but they have recovered for October cargoes.
However
refining margins have recovered to nearly
