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June 18, 2018

Bunker Fuel

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Latin American Bunkers Commentary

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

Most marine fuel prices in Latin America saw lower pricing Thursday as key energy complex markers continued to lose strength, including ICE Brent crude, NYMEX ULSD futures and US Gulf Coast fuel oil prices. S&P Global Platts assessed ICE May Brent at $63.67/b at 2:30 pm EST (1930 GMT), down 68 cents. In Balboa, Panama, IFO 380 fell $2 to $355/mt ex-wharf, tracking a decrease in the USGC high sulfur fuel oil assessment, which dropped 65 cents to $52.70/b, equivalent to a $4.13/mt dip. The market was talked muted on the day. The decrease marked a fourth consecutive drop, with the assessment falling $16 since March 2. There was no activity during the Platts Market on Close assessment process. Along the Pacific Coast of South America, IFO 380 prices were all lower, in line with market expectations for lower price indications throughout the week. In Callao, Peru, the assessment fell $1 to $427/mt while in Cartagena, Colombia, the price fell $1 to $422/mt. On the east coast of South America, the IFO 380 price in Buenos Aires and Santos, Brazil, fell $2 to $418/mt and $4 to $367/mt, respectively. Pricing could continue to fall to end the week, sources said. Marine gasoil in Santos shed $5 to $704/mt on lower supplier pricing and rose $5 in Guayaquil, to $700/mt as pricing was expected to continue to climb in the short term. In Balboa, MGO slid $1 to $608/mt ex-wharf, following a fall in NYMEX April ULSD, which declined 1.55 cents to $1.8591/gal.


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