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Bonny Light

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ResearchGlobal2026-08-29

Atlantic Basin Spread Diverges: Urals & Bonny Light Discounts to Brent Widen, Europe–Asia Re-Export Rebalances

Urals discount to Brent widens to ~-$4.1/bbl while Bonny Light, supported by Nigerian output cuts, narrows to ~-$1.2/bbl; European refiners rebalance sourcing and Asia-Pacific re-exporters capture the spread as freight eases. Within SNSUC's seven-grade re-export suite, the repricing of Urals and Bonny Light reshapes Q4 deep-water cargo pricing.