Nigerian October crude cargoes are selling very slowly due to tepid demand caused by an oversupply of light sweet crudes, trading sources said Friday. There was almost half of the October program or 30 odd cargoes still available which, sources said, was very long for this point in the trading cycle. “The structure is at a contango of 80 cents and differentials are correcting. Nigerian crudes have been slow to sell, despite better refining margins, as the Atlantic Basin was awash with material, especially light sweet crudes,” a trader said. Sources said Nigerian crudes had been slow to sell despite better refining margins as the Atlantic Basin was inundated with too many crudes especially light sweet crudes. Article continues below… Crude Oil Marketwire delivers vital intelligence to help you make critical decisions. Delivered daily direct to your desktop, Crude Oil Marketwire provides detailed market […]