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May 20, 2018

Bunker Fuel

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Med and Africa Bunkers Commentary

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

The bunker market in the Mediterranean, Black Sea and Africa was weighed down by turn-of-the-year lethargy Tuesday, amid uncertainty and minimal movement in ICE Brent crude oil futures. The other seasonal trait was mildly adverse weather, although this did not cause disruptions. "Demand is quite low, availability is OK. There is [strong] wind today and this is forecast to last until tomorrow," a supplier said. Five bunker supply operations were in progress and no ships were waiting to enter the port in order to bunker, a spokesman for the port authority said Tuesday afternoon. The picture was heard to be similar at Malta. "Availability is OK," a supplier on the island said. Market conditions in the Eastern Mediterranean were comparable. "Demand [at Piraeus, Greece], is slow, availability is OK," a supplier said, adding there were no problems at refineries. Buying interest at Istanbul was heard mixed. "Availability and barges are good, demand is not bad for the first [trading] day of the year," a supplier said. In West Africa and at Durban, South Africa, fuel oil was heard broadly stable and marine gasoil was heard firmer. Demand at Durban was on the weak side and supply unproblematic, a trader said.


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