| The premium of high sulfur fuel oil FOB Med cargoes to FOB Rotterdam barges narrowed Monday from the previous week, although a tighter Mediterranean meant participants might still look for arbitrage opportunities between the two regions, despite a volatile spread, sources said Tuesday. FOB Med cargoes retraced to a premium of $0.50/mt against Rotterdam barges Monday, closing at $204/mt. Over the previous week they had reached a premium of as high as $3/mt.
"There is not a lot of product around in the Mediterranean," a trader said Tuesday, adding that conversely stocks in Rotterdam were looking healthy and loadings for exports towards Singapore seemed to have slowed down, suggesting there might be more volumes coming into the Mediterranean moving into October...............................................Full Article: Source
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