Argentina bunker prices drop on supply availability: trade

Bunker fuel supplies have arrived at the port of Buenos Aires in Argentina and, without much demand, the price of bunker fuel has accordingly dropped, market sources said.
Platts assessed IFO 380 $19.50/mt lower at $645/mt in Buenos Aires.
The price had spiked at the beginning of the month due to suppliers awaiting resupply from YPF's 189,000 b/d La Plata refinery, which had its crude deliveries delayed by weather, market sources have said.
The delay in crude supply to the refinery then caused the resupply of bunker fuel available in Buenos Aires to be "pretty tight," as described by one supplier.
But the situation flipped this week with the arrival of supply.
"Low demand! Good availables!" one Buenos Aires bunker source said Wednesday.
The previous tight supply situation helped boost IFO 380 in Buenos Aires to its highest level so far this year on February 1, based on Platts data, when it was assessed at $665/mt. The higher price also reflected an increase in crude futures and fuel oil at that time.
Source: Platts