W. Africa Crude-Spot trade muted, tender results awaited

LONDON, July 8 (Reuters) – West African spot differentials slowly firmed on Monday on the back of higher margins, after a dip in the last few weeks, but spot activity remained thin.

* Around 12 cargoes from Angola’s August loading programme remained, traders said.

* State firm Sonangol was offering a cargo of Saturno at dated Brent plus 70 cents loading Aug. 29-30.

* BP was still offering a cargo of Girassol at dated Brent plus $2.00 loading Aug. 17-18. Cabinda was said to be sold out.

* Nigeria’s Qua Iboe was said to have been trading just above dated Brent plus $2.00 a barrel.


* Indonesia’s Pertamina closed a tender for crude loading Aug. 1-8 on Friday but results did not immediately emerge.


* China’s fuel producers are making extended curbs to their output in the third quarter after supply from mammoth new refineries stoked an already-sizeable glut, potentially dragging on crude oil demand from the world’s biggest importer of the commodity. (Reporting By Julia Payne; editing by David Evans) ))


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