W. Africa Crude-Angola's December cargoes gradually clearing
LONDON, Nov 19 (Reuters) -More Angolan cargoes for December loading have been finding buyers after a recent drop in differentials, traders said on Tuesday.
* Around nine Angolan December crude cargoes remain unsold, a trader said, two fewer than last heard. State-owned Sonangol sold out of its December cargoes last week.
* No offers of January-loading cargoes were being made yet, a trader said, while term allocations are finalised.
* Angola will load 35 crude cargoes in January, according to a trade source citing a preliminary loading programme, down slightly from 36 cargoes on the December schedule.
* Angola struggled to clear its December cargoes in part because of sluggish demand from China.
* On Nigerian grades, offers for Bonny Light were last heard close to dated Brent +$1, offers for Qua Iboe around dated Brent plus $2 and Forcados around dated Brent plus $2.50.
Reporting by Alex Lawler; Editing by Emelia Sithole-Matarise
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
