Week Ends with Bunker Prices Remaining Mixed

by Ship & Bunker News Team
Friday August 3, 2012

A week of relatively mixed marine fuel price movements ended with IFO380 in key indicator ports Singapore and Fujairah making week-on-week gains, while Rotterdam and Houston saw prices fall compared to last Friday.

Singapore IFO380 was down $0.50 on Friday to $630.50 giving the grade a week-on-week gain of $3.00, and MGO moved down $2.50 to $913.50 per metric tonne (pmt) for a week-on-week gain of $4.00.

Hong Kong saw IFO380 and MGO end two consecutive days of negative movements with IFO380 moving up $4.00 to $646.50 pmt and level with last Friday's price, while MGO gained $5.00 to $923.50 making a week-on-week gain of $5.00.

Rotterdam IFO380 fell for a third consecutive day losing $0.50 to end the week at $608.00, down $1.50 week-on-week, and MGO climbed $3.50 to $909.50 pmt gaining $6.50 week-on-week.

Fujairah 380 cSt product gained for a third consecutive market day up $2.00 to $640.50 pmt and making a $4.50 gain week-on-week, while MGO fell $3.50 to $997.50 for a week-on-week loss of $6.50.

Houston IFO380 and 1.00% maximum sulfur 380 cSt product (LS380) both moved up gaining $2.50 to $614.00 and $13.50 to $728.50 respectively, with IFO380 making a week-on-week loss of $3.50 and LS380 a gain of $8.50.

LA / Long Beach IFO380 and LS380 were both steady at $618.00 and $867.00 pmt respectively, with IFO380 making week-on-week gains of $7.00 and LS380 climbing $10.00.

The week ended with the WTI spot price soared $4.27 (4.9%) to close at $91.40 per barrel.

Ship & Bunker News Team
To contact the editor responsible for this story email us at editor@shipandbunker.com