Nigeria Sets Bonny, Qua July OSP -40c At Dated +$2.80

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LONDON (Dow Jones)–Nigeria’s state oil company, or NNPC, has set the official selling price for its key benchmark crude grades Qua Iboe and Bonny Light at a premium of $2.80 over the Dated Brent benchmark for July, traders of West African crude said Monday. The July OSPs for Qua and Bonny are 40 cents lower from prices set in June.

Earlier in the day NNPC released its August loading schedule which showed exports of its benchmark Qua Iboe and Bonny Light crude will increase compared to July.

The following table lists Nigeria’s June OSPs in dollars versus Dated Brent:

 Grade              July    June     May
 Abo                +1.35   +1.80    +2.20
 Agbami             +1.55   +1.95    +2.50
 Akpo               +1.50   +1.65    +2.50
 Amenam             +2.10   +2.50    +3.20
 Antan              +0.65   +0.70    +0.80
 Bonny Light        +2.80   +3.20    +3.80
 Bonga              +2.80   +3.20    +3.80
 Brass Blend        +2.80   +3.20    +3.80
 EA                 +3.35   +4.00    +4.40
 Erha               +2.90   +3.50    +4.10
 Escravos Light     +2.35   +2.90    +3.50
 Forcados           +3.35   +3.90    +4.20
 Okwori             +2.60   +2.90    +3.50
 Okono              +2.60   +3.00    +3.60
 Oso                +1.40   +1.50    +2.30
 Pennington         +3.55   +4.05    +4.50
 Qua Iboe           +2.80   +3.20    +3.80
 Yoho Light         +2.80   +3.20    +3.60

-By Reza Amanat, Dow Jones Newswires; 4420-7842-9487; reza.amanat@dowjones.com

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