NuStar Energy in bunker fuel marketing agreement

|About: NuStar Energy L.P. (NS)|By:, SA News Editor

NuStar Energy (NS +0.7%) signs a fuel oil supply agreement with a "major" fuel oil trading company enabling NS to purchase bunker fuel supply to fulfill customer needs in St. Eustatius and the Caribbean.

NU says the agreement will help reduce working capital tied to inventory by $40M-$50M, reduce exposure to price volatility and hedge ineffectiveness, and better manage operating expenses.