Trading limited as Nigerian November crude programmes trickle out


Nigerian November loading programmes continued to emerge on Monday while trade overall was limited due to a wide spread between the European and Asian benchmarks, making Brent-based oil more expensive for Asia, and a reluctance by sellers to lower differentials, Reuters reports.

There was still no sign of the Bonny Light programme. The grade is currently under force majeure. The Erha schedule has also not yet come out but is typically among the last to surface.

The Brass River schedule came out with four cargoes while Amenam will have three cargoes in November.  Indonesia’s Pertamina issued a buy tender for crude for December delivery. A tender from India’s BPCL to buy oil also closed on Friday.