World News
Bunker Prices Drop on Wednesday
Many ports saw relatively large losses on Wednesday in comparison to recent steadily rising prices, and key price indicator ports Singapore, Rotterdam, and Houston all saw IFO380 fall for the first time since August 29, 2012 ending four consecutive market days of gains.
Singapore IFO380 dropped $7.00 to $680.00, while MGO ended four consecutive market days of gains sliding $12.00 to $999.00 per metric tonne (pmt).
Hong Kong saw IFO380 lose $10.00 to $692.00 pmt, and MGO moved down for the first time since August 29, 2012 slipping $5.50 to $1017.00 pmt.
Rotterdam IFO380 and 1.00% maximum sulfur 380 cSt product (LS380) both lost $7.00 bringing the price down to $658.00 and $723.50 respectively, while MGO dropped $10.00 to $985.50 pmt.
Fujairah 380 cSt product ended two consecutive days of gains and moved down $8.50 to $692.00 pmt, and MGO fell $4.50 to $1037.00 pmt.
Houston IFO380 slid $12.50 to $656.00 pmt, LS380 shed $19.50 to $751.50 putting the price just $1.00 above last Wednesday, while MGO fell $11.00 to $1044.50 pmt.
LA / Long Beach IFO380 was down for a third consecutive market day losing $7.00 to $679.50 pmt.
Wednesday's WTI spot price was up $0.06 to close at $95.36 per barrel.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 530.00 | 2.00 | 619.00 | 4.00 |
| Rotterdam | 470.00 | 2.50 | 626.00 | 3.00 |
| Houston | 465.50 | 4.00 | 624.00 | 3.00 |
| Fujairah | 507.00 | 12.50 | 713.50 | 11.50 |
| Global 20 Ports Average | 540.00 | 0.00 | 723.00 | 4.50 |
| Global 4 Ports Average | 493.00 | 5.50 | 645.50 | 4.00 |
| Global Average Bunker Price | 574.50 | 1.50 | 762.00 | 3.00 |
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