Wednesday, November 16, 2005

Prices fall on weakness of Crude Market.

SINGAPORE (Dow Jones)--Asia's bunker fuel prices were mostly lower Wednesday, in line with continuing weakness in the global crude oil market, traders said.

Crude oil futures on the New York Mercantile Exchange fell to four-month lows overnight before declining further in electronic trading during Asian trading hours.

Supply of bunker fuel improved in some regional markets, including South Korea and Singapore, while demand remained average, traders said.

With no sign of a rebound in crude oil, bunker fuel prices in Asia could fall another $1-$2 a metric ton in the coming days, traders said.

The price of 380 centistoke bunker fuel was quoted at $287-$290/ton in Singapore, down $2-$3 from Tuesday.

In U.S. dollars a metric ton (delivered basis)


Wednesday Tuesday
380 cst 287.00-290.00 289.00-293.00
180 cst 297.00-300.00 303.00-304.00
MGO 460.00-461.00 469.00-470.00
MDO 450.00-451.00 460.00-463.00

-By Feiwen Rong, Dow Jones Newswires


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