S Arabia, Indian firms offer over 1m tonnes of fuel
October 31, 2011 00:00:00
SINGAPORE, Oct 30 (Gulfnews): An unprecedented one million tonnes of November-loading fuel oil have been sold or offered in less than two weeks, mostly by refiners based in Saudi Arabia and India that are cashing in on a strong East Asian market, traders said.
Cash premiums and prompt timespreads have surged for more than a month, a trend that has not shown any signs of stopping, traders said.
