LONDON: Sellers pitched initial offers of Angolan crude for November loading on Tuesday, at levels seen as on the high side by some buyers.
Rising freight rates and ample supply of competing grades look bearish for Nigerian differentials, traders said.
Nigerian state oil firm NNPC is expected to release its October official selling prices later this week, and November loading dates should emerge soon after.
ANGOLA
The loading programme for Angolan crude in November emerged on Monday, showing higher supplies.
State oil company Sonangol was heard to be offering a November-loading Dalia cargo at dated minus $2.30 and a Saturno cargo at the same level.
Potential buyers said the Dalia offer sounded on the high side given that November supply of that grade will return to a normal level after maintenance in October. NIGERIA
The re-appearance of Qua Iboe cargoes for sale last week has added to the volume looking for buyers, which traders put at around 15-20 cargoes.
Vitol offered a cargo of Bonny Light at dated Brent plus $2.10 on a delivered basis to Rotterdam for early October loading, 10 cents higher than on Monday.
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