Hyundai Oilbank Said to Buy Fuel Oil From Mitsubishi for 2014

Hyundai Oilbank Co. has agreed to buy about 90,000 metric tons a month of 380-centistoke bunker-grade fuel oil from Mitsubishi Corp. for delivery from January to December next year, according to two traders.

The South Korean refiner will pay premiums of $10 to $15 a ton above Singapore benchmark prices on a cost-and-freight basis, said the traders, who asked not to be identified because the information isn’t public.

To contact the reporter on this story: Winnie Zhu in Singapore at wzhu4@bloomberg.net

To contact the editor responsible for this story: Pratish Narayanan at pnarayanan9@bloomberg.net

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