New York (Platts)--4Mar2011/542 am EST/1042 GMT
US bunkers eased Thursday from recent highs as crude and fuel markets softened, market sources said. "A couple of ships [were shown] out there late in the day, and there is some overnight business showing," said one US West Coast supplier. "There seems to be a case of nerves, as the Brent/WTI spread comes in," the source added, noting the uncertainty in oil markets in general. Thursday's Brent/WTI spread was $12.88/b, compared to $15.79/b on March 1. Los Angeles 380 CST was assessed Thursday at $648/mt ex-wharf, down $9 from Wednesday. Only one stem was reported sold in Los Angeles, which typically averages three to five stems reported in the spot market. PDI said it sold 1,250 mt at $646/mtw for March 9 delivery. "[Bunkers] have only come off a few bucks from what I see," said one East Coast supplier. "It is because the crude and fuel markets came off a bit." He added that "looking forward, there is [no resupply] coming in, so supply will be very tight." New York Harbor was assessed Thursday at $636/mtw, down $7 from Wednesday, but the spread between 380 CST and resupply indicator 3% sulfur fuel oil in New York Harbor remains at a healthy $14.779/mt. One stem was reported sold in New York Harbor Thursday, as ConocoPhillips reported selling 380 CST at $634/mtw for 550 mt for delivery March 9.--Tom Sosnowski, thomas_sosnowski@platts.comSimilar stories appear in Bunkerwire. See more information at http://bit.ly/Bunkerwire