Bunker fuel oil prices at the Egyptian port of Suez collapsed Thursday, following the delivery of a fresh cargo of 380 CST fuel, sources said.

Delivered 380 CST fuel in Suez dropped by $290/mt to $350.50/mt Thursday, after having risen $250/mt a week earlier when the previous EGPC fuel cargo was depleted, leaving only material from a cargo delivered in August 2014, which was still priced off that period, sources said.

“They have 380 CST at Suez, Misr is with product subject to barge [availability], Copetrole is offering at $350/mt…they offered to supply me from tomorrow,” one trader said.

Neither company was immediately available to comment on the matter.

Source: Platts