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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Singapore Asia Pacific World Asia Fuel Oil- Taiwan Formosa sells 50,000T Jan at higher prices Reuters - Monday, January 17 Send IM Story Print By YanChong Yaw SINGAPORE, Jan 17 - Taiwan's Formosa Petrochemical Corp sold two January-loading fuel oil cargoes, totalling 50,000 tonnes, at steady to higher price levels in its regular monthly tender, traders said on Monday. The first high-sulphur fuel oil parcel, totalling 40,000 tonnes, was sold at a discount of around $15.00 a tonne to Singapore spot quotes on free-on-board basis , up from minus $25.00 previously, while the remaining 10,000 tonnes of pyrolysis fuel oil , a low-viscosity cutter, was transacted at a premium of around $80.00. Both cargoes, for Jan. 25-27 loading from Mailiao, were sold to oil major Chevron. "This is the second straight PFO cargo that has gone at such high premiums and that's reflective of the increasing lack of cutters in the market, especially in view of the heavy February arrivals," a Singapore-based Western trader said. Reflecting this trend, the product's viscosity spread has widened unabatedly over the past week, with the front-month February contract valued at $10.50 a tonne in early Monday trade by 0430 GMT, up 13 cents from its previous close. Traders attribute the widening spread to February's five-month high Western inflows, with 3.7 million tonnes booked so far, that is imbalanced between high-viscosity materials and low-viscosity cutters. "The jury is still out but it certainly looks that way. A lot of the February Western inflows are from the Caribbean and they are usually high-viscosity, high-density cargoes that need to be blended before they can be sold into the bunkers market," another trader said. Recommend Send IM Story Print Related Articles US-BUSINESS Summary Reuters - 23 minutes ago GSK faces Q4 profit wipe-out after $3.4 billion charge Reuters - 23 minutes ago FOREX-Euro lower as rescue fund uncertainty drags Reuters - 28 minutes ago Apple's Steve Jobs takes medical leave Reuters - 40 minutes ago Saudi's Kingdom Holding Q4 net rises 51 pct Reuters - 46 minutes ago News Search Top Stories Ban Ki-moon urges clean energy revolution Apple's Steve Jobs taking new medical leave Tunisia in turmoil amid power vacuum Europe divided over expanding euro crisis fund 'The Social Network' triumphs at Golden Globes More Top Stories » ADVERTISEMENT Most Popular Most Viewed Smoking causes gene damage in minutes World is 'one poor harvest' from chaos, new book warns Oil price over $100 'not unrealistic': Iran United back on top of Premier League after Spurs draw British actress Susannah York dies aged 72: report More Most Viewed » More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2011 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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Asia Fuel Oil- Taiwan Formosa sells 50,000T Jan at higher prices
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