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May 27, 2018

Bunker Fuel

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Latin American Bunkers Commentary

New York (Platts)--06Dec17/0745 pm EST/ 0045 GMT

Bunker fuel prices in Latin America were mixed on Wednesday amid a decline in Brent crude and high sulfur fuel oil prices, but higher ULSD prices and talk of higher pricing along the Pacific Coast of South America due to tight supply. In the Platts Market on Close assessment process, Glencore posted an initial offer of $355/mt ex-wharf Balboa for 500 mt for December 9-16. Glencore gradually lowered its position to $349/mt. S&P Global Platts assessed the price 50 cents below the offer level at $348.50/mt ex-wharf, down $12 day on day. The decrease tracked a $1.56 fall to $52.15/b in the US Gulf Coast HSFO price, equivalent to $9.91/mt. Platts assessed ICE February Brent at $61.19/b, down $1.72, at 2:30 pm EST (1930 GMT). Along the Pacific Coast of South America, IFO 380 prices were mixed but mostly higher amid limited supply in key ports. The assessment in Callao, Peru, was flat at $455/mt and in Guayaquil, Ecuador, the price was $1 higher at $436/mt. On the East Coast of South America, the Buenos Aires IFO 380 assessment fell $2 to $391/mt, while neighboring Montevideo, Uruguay, rose $1 to $473/mt. Montevideo has seen improved supply, but higher-priced product remains a hurdle, a seller source said. In Santos, Brazil, the price was flat at $368/mt amid stable offers from the local refiner. Marine gasoil gained $5 in Buenos Aires to be assessed at $685/mt. MGO was flat at $795/mt in Valparaiso, Chile, on stable offers from a supplier at $797/mt. In Balboa, MGO fell $5 to $577/mt ex-wharf, tracking a decrease in the NYMEX January ULSD contract, which moved down 1.56 cents ($16.46/mt) to $1.8613/gal.


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