02 February 2019, News Wires — Spot trade slowed to a crawl on Wednesday, as a stand-off between buyers and sellers intensified.
* Bonny Light and Qua Iboe for March loading were once again offered near $2.50 a barrel above dated Brent, from about $2.15-2.20, but no trades were said to have taken place at those levels.
* One refiner said $1.20 would constitute a more reasonable level given that there is an overhang of over a dozen unsold cargoes from the February Nigerian programme.
* There are around a dozen unsold cargoes from the March Angolan programme, roughly a quarter of the loading schedule, traders said.
* Uruguayan refiner Ancap finalised a tender to buy light sweet crude on Wednesday, but the winner was not immediately clear. The company has tended to favour West African crudes over the past few months.