15 Mar '11, 12pm

Taiwan Formosa sells 2nd March fuel oil cutter at record-high prices: SINGAPORE, March 15 (Reuters) - Taiwan's F...

SINGAPORE , March 15 (Reuters) - Taiwan's Formosa Petrochemical has sold 10,000 tonnes of low-viscosity cutter stock at the highest price since the company started selling the grade in 2007, for the second time in a row, traders said on Tuesday. The low 3-15-centistoke (cst) pyrolysis fuel oil (PFO) cargo, for March 26-28 loading from Mailiao, was sold to European trader Vitol at a premium of around $130.00 a tonne to Singapore spot quotes on a free-on-board (FOB) basis, up from a premium of just above $100.00 previously for an early March-loading parcel. The refiner also sold another 40,000 tonnes of high-sulphur, high-density fuel oil, for the same loading dates, at a discount of around $30.00 a tonne, down from minus $15.00-$20.00 previously. "Its no surprise that the PFO cargo is done at such high price levels, especially now, with the imbalance between high-viscosity ...

Full article: http://sg.news.yahoo.com/taiwan-formosa-sells-2nd-march-f...

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