Silvia Struthers

A potential increase in Venezuelan crude flows to the US Gulf Coast could place downward pressure on fuel oil prices in the region, amid strong competition that might displace product currently arriving from Mexico, according to US-based fuel oil sources. Mexico and Venezuela both produce heavy crudes with plenty of residual fuel oil, the base for high sulfur fuel oil.

Bunker fuel sales in Panama sank to 383,908 mt in April, their lowest level since 381,570 mt in September 2022, following declining demand from container ships and weaker fundamentals in the global economy, as the upcoming low season looms in June. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The volume represented a 17.9% decline from March and a 19.7% retreat from April 2022, data from the Panama Maritime Authority showed late April 12.

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