Nigerian Qua Iboe crude was offered higher on Monday while the focus in the Angolan market remained on clearing the overhang of August cargoes.

Summer demand is supporting light, sweet Nigerian grades. Qua Iboe was offered at dated Brent plus $3.90 a barrel, up 10 cents from last week, a trader said.

Fewer than 10 cargoes of August-loading Angolan crude remain unsold, traders said. Demand for August cargoes was relatively lacklustre, not least from China, because of a weak economy.

State oil firm Sonangol was still looking for a buyer for its August Gimboa cargo, last heard being offered at dated Brent minus 50 cents.

Sonangol hasn’t yet finalised its term allocations for September cargoes, a trader said.
Source: Reuters (Reporting by Alex Lawler; editing by Kirsten Donovan)