West African crude differentials were heard to be steady on Monday, as traders switched attention to emerging May loading programmes for Nigerian grades.

Nigerian loading schedules for May had started to surface at the beginning of the week, but traders were still awaiting the full set.

Six cargoes of Bonny Light will load in May, and five cargoes of Qua Iboe, a trader said, but the totals could still change as programmes are finalised.

West African crude differentials were little changed as a result of the blast on the Trans Niger Pipeline last week, a trade source said on Monday.

The blast ruptured the main Trans Niger Pipeline, which carries Bonny Light, last Tuesday, but crude oil flowing into it was rerouted through an alternative line, its operator Renaissance said this week.

Force majeure was not declared on loadings of Bonny Light crude and loadings of the grade have continued from storage, traders have said. One said loadings are facing a few days’ delay after the incident.

Angolan grades were stable on Monday, a trader said, after Sonangol was heard to have sold a cargo of May-loading Dalia crude last week.
Source: Reuters