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Crude:

World fuel indices declined yesterday as Russian oil output climbed to post-Soviet high. Russia's production of crude and gas condensate (is similar to a light oil), averaged 10.78 million barrels a day during the month. That's an increase of 1.3 percent from a year earlier and 0.3 percent more than the previous month.

Iran is going to officially inform other OPEC members of its plans to raise output by 500,000 barrels a day at the group's Dec. 4 meeting. Iranian producers are sure these plans shouldn't send crude lower because the additional barrels are already priced in. The nation also expects to raise output by 1 million barrels a day by the end of the Iranian year in late March.

Soft Chinese factory data raised worries about energy demand in the No. 2 economy and so pressed fuel prices down as well.

Bunker Market:

Stable market. No loading problems reported.

Dutch time: 11.15 hrs

Fuel oil RMG 380 HS: 3.5%: USD 219-222

Marine Gas Oil DMA .89/ LS 0.1%: USD 421-424

ULS fuel oil: USD 390-395.