W. Africa Crude-Nigerian Bonny offered higher

Reuters
2025/01/18

LONDON, Jan 17 (Reuters) - Nigerian Bonny Light crude was offered higher on Friday in a sign that an expectation of greater demand for alternative grades due to new U.S. sanctions on Russia is emboldening sellers.

* Bonny Light was offered at dated Brent plus $2.20 a barrel, over $1 up from the last offer level heard, a trader said.

* This is a concrete sign of higher offers, a trend that traders mentioned this week although evidence had not come to light. Buyers have been reluctant to pay up given higher prompt prices, traders have said.

* On Angolan crude, traders said there was not much March-loading activity after the loading programme was released on Thursday.

* Angola plans to load 32 crude oil cargoes in March, a trade source said on Thursday, citing preliminary loading schedules. This compares with 28 cargoes in February.

(Reporting by Alex Lawler; editing by Kirsten Donovan)

((Alex.Lawler@thomsonreuters.com))

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