Market sources reported that Kuwait Petroleum Corporation (KPC), which operates the Al Zour refinery in Kuwait, will close a tender for low-sulfur fuel oil on Wednesday. The fuel oil is expected to be loaded between October and December of this year.

Each month, the refiner offered to load 130,000 tons fuel oil with a maximum sulphur level of 0.5%.

Sources said that the cargo would likely trade at a lower discount than $12 per metric tonne to Singapore's 0.5% LSFO freight quotes.

The winner of the Wednesday closing tender was not immediately known. (Reporting and editing by Christopher Cushing; Jeslyn Lerh)

(source: Reuters)