LONDON: Some Angolan crude differentials were showing signs of weakening on Tuesday, while loading uncertainties were weighing on demand for many Nigerian crudes.
Nigeria's government has resumed cash payments to former militants in the Niger Delta, an official said on Monday, in a bid to end a wave of militant attacks on oil sites.
ANGOLA
Some grades were heard to be trading at weaker levels.
The Cabinda cargo that state oil firm Sonangol was reported to have sold on Monday fetched less than dated Brent minus 40 cents, a trader said.
The last indication heard on this grade was an offer at dated minus 15 cents in late July.
Around half of Angola's September cargoes have traded, sources said. Sonangol was heard to still have three cargoes left to sell - a Nemba, Saxi and Sangos.
NIGERIA
Offshore grades such as Agbami and Akpo have been trading steadily, but concern over loading delays was still weighing on demand for other crudes.
Agbami was offered at dated Brent plus $1.50, a trader said, considered a strong level for the grade.
Qua Iboe was notionally valued at dated Brent plus $1.50, although loadings are still under force majeure and there is no sign of a September or a revised August loading programme.
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