World News
Wednesday Bunker Prices Continue Downward
Bunker prices in key price indicator ports mainly continued down on Wednesday, but movements were small and showed signs of stabilising after larger losses earlier in the week.
Singapore IFO380 was steady at $614.00, while MGO moved down for the third consecutive market day falling $3.00 to $889.50 per metric tonne (pmt).
Hong Kong IFO380 was down for the third consecutive market day dropping $3.50 to $629.50, and MGO lost $13.50 moving down to $903.50 pmt.
In Rotterdam IFO380 and MGO both fell for a third consecutive market day down $0.50 to $595.00 pmt and $9.00 to $881.50 pmt respectively.
Fujairah 380 cSt product moved down for a third consecutive market day falling $1.50 to $620.50, while MGO dropped $1.50 to $997.00.
Houston IFO380 and MGO joined Rotterdam in a third day of drops, IFO380 falling $1.00 to $604.00 and MGO $3.50 to $945.00 pmt.
LA / Long Beach IFO380 was steady at $626.00 pmt on Wednesday.
The WTI spot price moved up for a second consecutive day climbing $0.51 to close at $88.79 per barrel.