The week ended with bunker prices heading higher in most world regions, as WTI dropped for the first time since Thursday last week, today falling $0.64 to an even $93.00.
Most ports in East, and South East Asia typically gained around $2.00 to $3.00 per metric tonne (pmt) today, but Singapore made a slightly larger movement gaining $5.50 to $610.00 pmt for a week-on-week change of $+9.00. Low sulfur 380 cSt product (LS380) at the port slipped $1.00 to $644.50 however, narrowing the premium for the Emissions Control Area (ECA) compliant fuel to $34.50 pmt. A gain of $6.50 for MGO to $851.00 pmt was the third day of rising prices for the product, which ended the week $3.00 lower than the price last Friday.
Ports in Europe saw IFO380 make slightly larger gains than in Asia, around $5.00 to $7.00 pmt, with Rotterdam IFO380 rising $5.00 to $582.50 pmt, a week-on-week gain of $7.50. LS380 was up $2.00 to $594.50, also up $7.50 since last Friday, and MGO was up $7.00 to $839.00 pmt for a change of $+14.50 over the week.
Fujairah IFO380 was up $5.50 to $614.00 pmt to move $11.50 higher then the current low for the year set on Tuesday, while MGO was up $1.50 to $1008.50 pmt, $4.50 higher than last Friday.
In the Americas, IFO380 made some stronger gains in South America which saw prices rise as much as $10.00 in Suriname, while North America's gains for the product were typically in the $2.00 to $3.00 range.
Los Angeles and Long Beach made it a sixth day of rising prices with the smallest single day gain in that time, up $4.00 to $661.50 pmt for a big jump of $+48.00 since this time last week.
Houston IFO380 moved up $2.50 to $581.50 pmt for a gain of $5.00 since last Friday. LS380 moved up $4.00 to $653.00, $0.50 lower than the previous week, and MGO moved up $4.50 to $953.00 pmt for a week-on-week change of $+18.00.
