Prices fell across the board for the US Atlantic and West Coast markets as crude and ULSD slipped Monday. During the Platts Market on Close assessment process, Glencore had five individual offers — for IFO 380 and MGO in Charleston and Savannah, and for MGO in New York. The ICE October Brent futures contract slipped 8 cents/b day on day to $72.73/b at 2:30 pm EDT, regaining substantial ground after reaching a late afternoon low of $71.04/b and an intraday high of $73.09/b. NYMEX September ULSD settled at $2.1370/gal after reaching an intraday high of $2.1506/gal.
In Charleston, Glencore offered MGO at $703/mt for 150 mt ex-wharf and IFO 380 at $429/mt for 250 mt ex-wharf. Glencore also offered IFO 380 in Savannah at $429/mt for 250 mt ex-wharf, but offered MGO at that location at $683/mt for 150 mt ex-wharf. Glencore found no buying interest for any of the offers, and the positions were left standing at the end of the MOC process. On the West Coast, prices slipped as Singapore prices went up slightly day on day, but crude and ULSD dipped. In Los Angeles, pricing indications were heard at $472/mt delivered for IFO 380 and $710/mt delivered for MGO. Los Angeles was assessed at $452/mt ex-wharf for IFO 380 and $690/mt ex-wharf for MGO. Vancouver was assessed at $465/mt ex-wharf for IFO 380 and $743/mt ex-wharf for MGO. On the Gulf Coast, high sulfur fuel oil dipped 58 cents/b on the day to $62.90/b. In Houston, Glencore offered 250 mt of IFO 380 during the MOC but could not attract buyers at $397/mt ex-wharf.
Houston IFO 380 was assessed at $396.50/mt, down $8.50/mt ex-wharf day on day. Pricing indications for MGO in Houston were heard at $675/mt ex-wharf. In New Orleans, offers were heard at $430/mt ex-wharf for IFO 380 and $675/mt ex-wharf for IFO 380. Indications in New Orleans were heard at $430/mt ex-wharf for IFO 380 and $670/mt ex-wharf for MGO. Houston was assessed at $396.50/mt ex-wharf for IFO 380 and $675/mt ex-wharf for MGO. In New Orleans, IFO 380 was assessed at $429/mt ex-wharf and MGO was assessed at $670/mt ex-wharf.
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Source: Platts
