W. Africa Crude-Nigerian September trade continues
LONDON, Sept 9 (Reuters) -Nigerian Bonny Light and Forcados differentials edged lower on Monday as sellers sought to offload remaining September cargoes.
* A September-loading cargo of Bonny Light was heard to have traded close to dated Brent plus $2, having been on offer at around dated plus $2.50 last week. No further details were available and the deal was not confirmed.
* Bonny Light offers are still around dated plus $2.50 following that trade, a trade source said.
* Forcados and Erha were both heard on offer at around dated plus $3.50.
* Between five and ten Nigerian September cargoes now remain unsold on the month's loading programme, one source said. Last week, several traders had pegged the number of unsold cargoes at or below 10, with one source indicating closer to 12.
* Traders said ongoing outages to Libyan oil exports have helped to clear some of the September overhang for Nigerian cargoes, and are also preventing a larger slide in differentials given weak refinery demand amid low profit margins and upcoming maintenance works.
* Last week, ExxonMobil was heard to have sold 2 million barrels of Qua Iboe to HPCL, some of which will likely come from a September cargo that was being offered at dated Brent plus $2.75, a trader said.
Reporting by Robert Harvey, Editing by David Evans
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