W. Africa Crude-Angolan January offers surface

Angolan January cargoes were on offer on Friday, while buying interest in Nigerian grades remained lacklustre.

Two January cargoes of Angolan Dalia was on offer at dated Brent minus 50 cents on Friday, while a January Nemba cargo was on offer at dated minus $1.20.

Traders last viewed nine or ten outstanding cargoes on the Angolan December loading schedule in recent days.

A total of 35 cargoes Angolan cargoes will load in January.

There were no fresh price discussions on Nigerian grades on Friday, a trade source said, with Bonny Light still viewed close to dated Brent plus $1.00.

Around 25 Nigerian December cargoes remain unsold, a trade source said on Thursday.

The overhang in West African December cargoes belies an uptick in middle distillate margins, and could be partially linked to year-end accounting practices impacting demand for late-November cargoes.
Source: Reuters (Reporting by Robert Harvey, Editing by Louise Heavens)