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Praxis Market Update
Dimitris Mertikas, Praxis Energy Agents S.A.
28 Jun 2010 15:37 GMT





Praxis Energy Agents S.A. logo Crude is trading presently under USD 78/bbl after Friday’s late session which boosted prices to USD 78.20/bbl. Earlier in the week, market sentiment was hoisted by China’s pledge to increase flexibility of the Yuan amid speculation that currency appreciation would increase Chinese purchasing power and hence demand for oil as well as other commodities.

In Singapore, the majority of suppliers were quoting for deliveries after the 1st of July.

In Jeddah, all suppliers were competing fiercely for heavy fuel oil requirements with rebates in some cases reaching even $30 from posted prices.

In Piraeus, according to local sources, bunker operations should not be affected by tomorrow's labour strike.

In Gibraltar, barge congestion will remain evident until the beginning of next month.

In Klaipeda, earliest delivery date is reported for the 30th of June.

In Ghent, local players advised readiness to accommodate combined 380cst requirements even with a very short notice.

In Malta, one supplier reported fully committed schedules until 1st July.

In Hong Kong, most offices will be closed due to local holidays on the 1st of July.


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Company: Praxis Energy Agents S.A.

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