Total sells Bonga as spot trade slows for Nigerian crude

Public holidays in China kept spot trade under wraps on Wednesday, with few Nigerian cargoes trading hands, traders said.

Total was said to have sold a cargo of Bonga at a premium of $1.70 a barrel to dated Brent. There are around 15 unsold cargoes from the 58-strong Nigerian October loading programme, down from nearly 20 at the end of last week, traders said.

The November programme, the largest in six months, has been slow to sell. China’s financial markets, including commodities, are closed during the week of Oct. 1-5 for the National Day holiday.

Source: Reuters

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