The market was focused on emerging July loading programmes and trade was limited to tenders, Reuters reports.

Nigeria’s July programmes for Qua Iboe, Bonny Light and Bonga emerged on Thursday, with volumes for Qua and Bonga up and Bonny down compared with June.

Nigeria’s state oil company, NNPC, is also in the final stage of signing deals worth $6 billion to exchange more than 300,000 bpd of crude oil for imported petrol and diesel, sources said.