Trading of Nigerian crude muted on high seller offers

Trading remained hampered by differentials on Nigerian grades that buyers said were too high, Reuters reports.

Nigerian deals remained limited as sellers kept differentials at high levels. Majors Shell, Total and BP were all offering cargoes, traders said, and roughly half of the country’s loading plan had yet to trade.

Still, offer levels were elevated, with Bonga as high as $1.90 per barrel above dated Brent, Bonny Light in a range from $1.60-$1.90 per barrel and Agbami at 60 cent premiums.

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