BP was bidding for early-October loading cargoes of Qua Iboe, Bonny Light and Bonga at premiums of between $1.40 and $1.60 a barrel above dated Brent, compared with indications of $1.60-1.65 on Monday, traders said.

Trading house Mercuria was offering a cargo of October loading Forcados as high as $2.00 a barrel above the dated price, up from around $1.70 on Monday. Even after cutting the offer to $1.75, no buyers surfaced.

Only a few of the smaller Nigerian loading programmes, such as Brass River, Ebok and Oyo had not yet emerged. So far, exports look likely to top 1.9 million bpd in November, which would be the largest loading programme since May’s 1.895 million bpd schedule.

Source: Hellenic Shipping News