Oil traders wait for January programmes as Nigerian cargoes clear

A surplus of December loading cargoes has largely cleared thanks to a number of tenders, traders said on Thursday, but there was still no sign of any January schedules.

Less than 20 cargoes of Nigerian crude were still available, traders said, with January loading programmes expected to start emerging on Friday. Only a handful of Bonny Light, Qua Iboe and Forcados cargoes were left. Bonny was being shown at a premium to dated Brent of $1.60 to $1.70 a barrel and Forcados at $1.70.

December loading Bonga was said to be sold out. Indonesia’s Pertamina also took Qua Iboe and Bonny Light from Total and Escravos from Chevron in its early January delivery tender, traders said.

Source: Reuters

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