Kuwait Petroleum Corp (KPC) has sold its first fuel oil cargo in two months, a cracked 380-centistoke (cst) parcel for September loading at steeply lower price levels, Reuters has reported, citing traders. The 80,000-tonne cargo, for lifting on September 1-2 from Kuwait, was sold to a Middle East player at a discount of $1.50-$2.50 a tonne to Middle East spot quotes on a free-on-board (FOB) basis, down from a premium of $3.00-$4.00 previously. "It's a big drop from the previous deal - physical premiums are dropping like stones and marginal quality barrels, like these KPC cargoes, are the ones that are hit first," a Singapore-based Western trader said.