W. Africa Crude-WAF grades remain under pressure
LONDON, Nov 6 (Reuters) -West African crude grades remained under pressure from abundant supplies of rival grades and lacklustre demand.
* Nigerian crude grades are under pressure from the recovery in Libyan oil exports and cheaper differentials for its grades, which rival West African supply.
* However, a recent uptick in diesel refinery profit margins globally could help demand for distillate-rich West African grades rebound, the source added.
* Angolan grades are meanwhile also under pressure from a lack of buying interest from China for the current trading cycle of December cargoes.
* Nigerian Bonny Light was last on offer at dated Brent plus $1.25, a trade source said, while Nigerian Qua Iboe was offered at dated Brent plus $2.50.
* On Angolan, state oil company Sonangol was last offering cargoes of Cabinda and Dalia at dated Brent plus 90 cents and dated minus 50 cents respectively, traders said.
* Eni was meanwhile last offering Angolan Sangos at dated minus $1.25, Nemba at dated minus 65 cents and a Mondo cargo at dated minus $1.20.
* In the Platts window on Tuesday, BP sold an Angolan Hungo cargo to Unipec at dated Brent minus $2.80.
Reporting by Robert Harvey; editing by David Evans
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