Nigerian premiums have fallen, given abundant supply of December-loading cargoes, a trader said on Friday.

Bonny Light is being offered at a price flat against dated Brent a barrel, Forcados is on offer at dated Brent plus $1.5 a barrel and Erha is in the range of dated Brent plus $1 a barrel, the trader said.

Bonny was last heard offered at dated Brent plus $1.75 a barrel, while Forcados was previously offered at dated Brent plus $2.25 a barrel.

Angola’s January loading programme emerged last week, while Nigeria’s January-loading programme is expected imminently even as the country has a sizable overhang of December-scheduled cargoes.
Source: Reuters (Reporting by Natalie Grover in London; Editing by David Goodman, Jonathan Oatis and Louise Heavens)