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Oil product prices fell in the week after Saudi Arabia cut its official selling prices to Asia and China reduced oil import volumes. Fuel oil 3.5 dropped 6% and low-sulfur products fell 7 to 8%, even though ARA fuel oil stocks declined.
Lower Saudi OSPs and weaker Chinese import demand point to softer refined product prices, which reduces bunker and diesel costs for shipping and feed logistics.
cyprusshippingnews.comadonisSep 10, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
