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May 20, 2018

Bunker Fuel

Markets

NWE and Baltic Bunkers Commentary

New York (Platts)--02Jan18/0745 pm EST/ 0045 GMT

Muted buying interest and generally good supply characterized the bunker market in Northwest Europe and the Baltic Tuesday, amid little movement in ICE Brent crude oil or gasoil futures. Amsterdam saw little action. Large or prompt deliveries can often lead to tightness at the port but no such problems were heard Tuesday. Hamburg stood out, seeing mild constraints on supply of fuel oil as sellers looked to hold higher stocks of marine gasoil and sell more middle distillates instead. "Some suppliers were doing a lot of fuel oil and decided to do more MGO as they can make more money on it, so it means fewer offers [of fuel oil] around," a trader said. Buying appetite at Gothenburg, Sweden, and Skaw, Denmark, followed the prevailing trend, amid good access to product. "Demand is a little slow," a supplier said. The market at St. Petersburg, Russia, was in the midst of a national holiday lasting until January 9. Prices at the port were heard slightly firmer from December's final assessment.


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