New York (Platts)--1Apr2011/634 pm EDT/2234 GMT

High sulfur fuel oil assessments in New York Harbor Friday jumped to highest levels since August 4, 2008, Platts data showed.

"New York [3%S] moved up with 1%S, all other markets are high as well," said a source, citing a possibly tight 3%S fuel oil market in the US Gulf Coast.

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There were no physical positions for 3%S sulfur fuel oil in New York during the Platts Market on Close assessment process, but this market had seen consistent buying interest since March 25.

Platts assessed 3%S in New York $1.60 higher at $102.80/barrel Friday, highest since August 2008, when it was assessed at $105.40/b.

During the Platts MOC assessment process, one 120,000-barrel cargo traded at $104.70/b, and was assessed at that level, but failed to breach a 2.5-year high established at $105.80/b on March 14.

On the Gulf Coast, 3%S was assessed by Platts at $100.30-100.35/b Friday, breaching $100.00/b for the first time since August 21, 2008.

--Funda Saygin, funda_saygin@platts.com