World News
Bunker Prices Begin to Soften on Wednesday
Midweek marine fuel prices fell in many ports on Wednesday, with Fujairah being one of the few key indicator ports to see IFO380 gain.
Singapore IFO380 moved down for a second consecutive day dropping $0.50 to $628.00, while MGO climbed $7.00 to $910.00 per metric tonne (pmt).
Hong Kong saw IFO380 drop $4.50 to $643.50, and MGO ended three consecutive market days of gains falling $6.50 to $919.50 pmt.
Rotterdam IFO380 and MGO ended four consecutive market days of gains, with IFO380 dropping $1.50 to $610.00 and MGO losing $2.00 to bring the price to $904.00 pmt.
Fujairah 380 cSt product was up $2.00 to $638.00 pmt, while MGO moved down for a second consecutive day losing $2.50 to $999.00.
Houston IFO380 and 1.00% maximum sulfur 380 cSt product (LS380) both moved down for the first time in four consecutive market days dropping $6.50 to $614.00 and $9.00 to $716.00 pmt respectively, and MGO fell $5.00 to $948.00.
LA / Long Beach saw IFO380 gain $3.50 to $614.50, while LS380 moved up for a second consecutive market day rising $11.00 to $868.50.
Wednesday's WTI spot price moved up for the first time this week and gained $0.85 to close at $88.91 per barrel.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 491.00 | 2.50 | 592.50 | 16.50 |
| Rotterdam | 445.00 | 13.00 | 593.50 | 11.00 |
| Houston | 443.50 | 6.50 | 601.50 | 5.50 |
| Fujairah | 487.00 | 10.50 | 711.00 | 12.00 |
| Global 20 Ports Average | 517.50 | 1.50 | 697.00 | 3.00 |
| Global 4 Ports Average | 466.50 | 3.50 | 624.50 | 0.00 |
| Global Average Bunker Price | 559.50 | 2.50 | 736.00 | 2.00 |
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