UPDATE 1-W. Africa Crude-Angolan softer on weak Chinese demand

reuters11-02

UPDATE 1-W. Africa Crude-Angolan softer on weak Chinese demand

Adds Nemba deal in paragraph 4

LONDON, Nov 1 (Reuters) - The trading cycle for Angolan crude loading in December has so far been softer than for November-loading cargoes, traders said, partly due to lacklustre Chinese demand.

* Over 20 of December's 36 cargoes are still unsold, two traders said, a relatively large amount for this point in the monthly trading cycle.

* Chinese demand has been revised lower by forecasters in 2024 due to economic challenges and greater use of cleaner fuels such as LNG to power trucks.

* In a sign of a weaker market, Total on Friday sold a cargo of Angolan Nemba to Glencore at dated Brent minus $1.50 in the Platts window, a trade source said. That was down from the last offer heard of dated minus 35 cents.

* Nigerian Bonny Light was last on offer around dated Brent plus $1.50, while Qua Iboe was last on offer at dated Brent plus $2.50.

(Reporting by Alex Lawler and Robert Harvey; Editing by Shailesh Kuber)

((alex.lawler@thomsonreuters.com))

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Africa Crude-Angolan softer on weak Chinese demand\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-02 01:59 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20241101:nL1N3M810H:1><strong>reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>UPDATE 1-W. Africa Crude-Angolan softer on weak Chinese demandAdds Nemba deal in paragraph 4LONDON, Nov 1 (Reuters) - The trading cycle for Angolan crude loading in December has so far been softer ...</p>\n\n<a href=\"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20241101:nL1N3M810H:1\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0612318971.USD","symbol_name":"BGF NATURAL RESOURCES \"A5G\" (USD) INC","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20241101:nL1N3M810H:1","article_id":"2480858146","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2480858146","pubTimestamp":1730483994,"sourceInfo":null,"weMediaInfo":{"media_name":"reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"UPDATE 1-W. 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