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New Orleans hi-lo bunker fuel spread lowest in 12 weeks: Platts data
The hi-lo bunker fuel spread in New Orleans weakened to its narrowest mark in more than 12 weeks. The spread was assessed at $96.50/mt Wednesday, the lowest since January 28, when it was $95/mt, according to Platts data.
So far in 2014, the average hi-lo spread has been $98/mt, according to the data.
IFO 380 CST and IFO 380 CST 1%S in New Orleans were assessed at $618.50/mt ex-wharf and $715/mt ex-wharf Wednesday, decreases of 50 cents/mt and $7/mt, respectively.
The narrowing of the spread was mostly due to suppliers competing for business and weak buying interest as demand from power generators tends to decline during the spring, according to sources.
Source: Platts
So far in 2014, the average hi-lo spread has been $98/mt, according to the data.
IFO 380 CST and IFO 380 CST 1%S in New Orleans were assessed at $618.50/mt ex-wharf and $715/mt ex-wharf Wednesday, decreases of 50 cents/mt and $7/mt, respectively.
The narrowing of the spread was mostly due to suppliers competing for business and weak buying interest as demand from power generators tends to decline during the spring, according to sources.
Source: Platts
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