Nigerian crude differentials look to have found some support after a drop in offers this week, while traders on Wednesday were awaiting offers of August-loading Angolan cargoes.

Qua Iboe: Exxon sold a cargo to Total, a trader said. The last Qua bid was heard to be around dated Brent plus $2.20 in line with the last known offer, implying some support for differentials.

Up to 30 cargoes of Nigerian crude for loading in June and July have yet to find a buyer, traders said. The August-loading programmes, due over the coming days, will double that total.

On Angolan crude, Exxon offered a Pazflor cargo for early-August loading, deferred from an original loading date of end-July, a trader said.

State oil firm Sonangol had yet to offer spot cargoes for August loading and was still finalising its term allocations, traders said.

Angola is due to export 34 cargoes in August, down from 39 in July.
Source: Reuters