LONDON, Jan 2 (Reuters) - Asking prices for West African
grades have been inching down after buyers balked at relatively
high rates in December, with very little trading preceding the
holiday period.
* State oil company Sonangol shaved around 50 cents from its
sizable handful of February-loading cargoes on Thursday.
* It was offering Dalia at dated Brent plus $2.50, Gindungo
at plus $1.50, Hungo at plus $2.00 and Olombendo at plus $3.50.
* The disconnect between seller expectations and buyer
interest has pushed almost all trading into the two weeks
remaining in the cycle following the holidays.
* "If the cargoes had been priced to trade then they could
have moved more quickly," said one trader.
* Freight rates have remained flat at relatively high rates
for the most popular routes to Europe and Asia, shooting up in
the days after initial selling prices were compiled.
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