W. Africa Crude-Traders await Angolan September loadings

LONDON, July 16 (Reuters) - West African crude oil differentials held steady on Wednesday as market participants continued to await an Angolan loading programme for September.

The Angolan loading schedules usually surface around the middle of the month. Less than five Angolan cargoes of the current trade cycle remain unsold, a trader said on Tuesday.

Demand for distillate-rich medium West African crudes has been supported by strong refinery profit margins, a trader said, adding that the Autumn refinery turnaround season could cap crude demand.

Recent offers for West African grades included Bonny Light at dated Brent plus $2.60 and Forcados at dated Brent plus $4.25.

India bought a total of about 130,000 barrels per day (bpd) of Nigerian crude in June, up by 40% on the month, while its Angolan purchases rose by 8% month on month to 66,000 bpd.

U.S. president Donald Trump on Tuesday threatened sanctions on buyers of Russian exports, as well as a 100% tariff of Russian goods.

India and China are the major buyers of Russian oil and are also importers of West African crudes.