Daily Bunker Price Report, Wednesday April 24, 2013

Los Angeles / Long Beach saw a second day of double-digit gains for IFO380 today.

Global bunker price movements were mixed today, but a number of key ports saw gains as WTI closed up $2.25 at $91.43 per bbl, and Brent gained $1.42 to $101.73 per bbl.

While most ports in South and East Asia had lower bunker prices today, South East Asia bunker prices made gains.

Singapore IFO380 moved up $3.50 to $601.50 per metric tonne (pmt) reversing most of yesterday's $4.00 drop. Low sulfur 380 cSt product (LS380) was up $1.00 to $643.00 to keep movement over the last week fairly flat with a change of $-2.50 and a spread of $5.00. MGO made a small gain from the new low of the year set yesterday, today up $0.50 to $841.00 pmt.

There was no clear direction for price movements in Europe, but key port Rotterdam saw IFO380 gain $3.50 to $573.50 pmt to make the week-on-week change $-1.00. LS380 climbed $5.00 to $586.00 to widen the low sulfur premium to $12.50 pmt, and MGO corrected yesterday's fall of $2.00 with a gain of $2.00 to $821.00 pmt.

Fujairah IFO380 followed yesterday's movement of $-5.00 by today gaining $4.50 to $607.00 pmt, while MGO was steady at $1002.50 pmt.

In the Americas, prices continued to gain on North America's Atlantic Coast while players told Ship & Bunker that demand in the North West remained low.

Los Angeles / Long Beach saw a second day of double-digit gains for IFO380, today up $15.00 to $652.00 pmt for a gain of $44.50 since last Thursday.

Houston IFO380 slipped $0.50 to $577.50 pmt to keep overall movement fairly flat over the last week, while LS380 was down $1.00 to $645.50 making the premium for the Emissions Control Area (ECA) compliant fuel $68.00 pmt. MGO fell $2.50 to $940.00 pmt to make a gain of $+5.00 so far this week.