Latin America slows oil product tendering as prices hit 9- to 13-year highs

Latin American refined product prices spiked $7/b to $16/b March 2 amid global volatility, and these rising prices have triggered a pause or cancellation of buy tenders, especially in the ULSD market as prices broached 2008 levels in the heavily sourced US Gulf Coast. Refined product prices from Mexico to Argentina are likely at highs unseen in nine to 13…