Resid/bunkers: Reduced natgas may bolster USAO

摘要

US Atlantic Coast fuel oil tracked down closely on the back of NYMEX crude Monday.Crude lost 1.77/barrel to settle at 45.51/b. The crude move pressured benchmark front-month 1 sulfur swaps down 1.25/b to 35.70/b.During the Platts Market on Close assessment process, Sempra offered 200,000 barrels of 1S at 50 Platts mean pricing remainder December and 50 35.35, delivered basis New York Harbor December 25-31.There continues to be little demand of note across the fuel oil complex. Utility grade 0.3S spread to 1S has come in to 6/b, yet there is still no buying interest. It was heard during the day that Hess was looking for around 80,000 barrels of 0.3S, with traders saying it was probably for its marketing group.