Resid showed some resilience Tuesday, defying a late-day crumble in crude. Aril 3% paper surged to us20.25/bbl, and the April/May backwardation widened to us0.80/bbl. A bid came out at us21.00/bbl early on, and a deal was done at us21.25/mean, for 40-45,000 bbls FOB Hofti March 29-31.
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