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June 18, 2018

Bunker Fuel

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Americas Bunker Fuel Commentary

New York (Platts)--08Mar18/0745 pm EST/ 0045 GMT

North American bunker prices were overwhelmingly lower Thursday, as bearish crude oil sector sentiment spilled into finished products. The front-month ICE Brent futures contract was assessed at 2:30 pm EST at $64.67/b, a drop of 68 cents/b day on day, with intraday levels as low as $63.43/b. On the US Atlantic Coast, high sulfur fuel oil, the primary indicator of the cost of IFO 380 CST in the region, excluding storage and transportation charges, was assessed 64 cents/b lower at $54.01/b, its lowest level so far this month. New York, Philadelphia, Norfolk Savannah and Charleston IFO 380 were all assessed $1-$5/mt lower. Sources said that the inclement weather in the Northeast was also contributing to the muted trade and limited buying interest seen throughout the week. The price of front-month NYMEX ULSD futures contract dropped 1.54 cents to $1.8591/gal ($581.71/mt), which pressured marine gasoil prices. IFO 380 prices in the Pacific Northwest notched smaller declines, amid murmurs of ongoing turnarounds at two refineries. Vancouver shed $6/mt to $381/mt while Seattle slipped $3/b, putting it at a $3/mt premium over Vancouver. In morning trade, sources talked of extremely limited availability and trading levels at both ports in the mid-$380s. Midday pricing levels for Vancouver were heard as low as $370/mt ex-wharf, however that offer could not be confirmed with additional parties. One confirmed deal was heard concluded at $385/mt. Los Angeles IFO 380 was assessed $3 lower at $353/mt ex-wharf. On the USGC, high sulfur fuel oil posted its largest daily drop for the week, ending the day at $52.70/b, down 65 cents/b, with two 45,000-barrel deals in the Platts Market on Close assessment process concluded at $52.45-$52.50/b. Houston and New Orleans IFO 380 were talked as high as $350/mt in early trading, and as low as $330/mt ex-wharf in the afternoon. Glencore offered 250 mt of IFO 380 in Houston during the MOC but could not attract buyers at $332.50/mt ex-wharf. Houston IFO 380 was assessed at $332/mt, down $5.50/b for the day. Houston MGO was assessed down $4 at $566/mt, with offer levels heard as low as $570/mt ex-wharf. In New Orleans, IFO 380 was assessed at $349/mt ex-wharf, down $6, while MGO was heard at the same level as Houston and offered at $575/mt ex-wharf.


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Los Angeles 180 CST FOB


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