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Fri 15 Oct 2010, 13:36 GMT

IFO prices plummet in the Med


BIX MED 380 CST falls $10.11 per tonne as IFO levels tumble across the region.

380-centistoke (cst) prices tumbled in Mediterranean ports today as the Bunker Index Med 380 CST (BIX MED 380 CST) - the average price for 380-cst in the region - decreased by $10.11 to $482.33 per tonne, its lowest level since October 5th.

380-cst and 180-cst levels plummeted by $8-$12 per tonne in Algeciras, Augusta, Fos, Genoa, Gibraltar, Istanbul, Limassol, Off Malta and Piraeus.

Also moving in the same direction, the Bunker Index Med 180 CST (BIX MED 180 CST) - the average price for 180-cst in the Mediterranean - fell today by $9.62 to $510.63 per tonne.

Meanwhile, the Bunker Index Med (BIX MED) - the region's average price for all grades of fuel - declined by $7.76 to $585.30 per tonne.

MGO prices recorded the least significant price drops today with distillate levels plummeting on average by $5.70 to $753.40 per tonne, down from $759.10 the previous day. The price is the lowest MGO average this week and just $0.10 above last Friday's BIX MED MGO price of $753.30 per tonne.

For further information regarding regional and global indices published by Bunker Index, please click on the following link below.

http://www.bunkerindex.com/prices/indices.php

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