World News
Fujairah: Fuel oil Stocks Tight Amid Export Spurt
Thursday November 12, 2020
Fuel oil stocks (heavy distillates and residues) in Fujairah were 8.94 million barrels at end of last week down from the previous week and at their lowest level for over a year.
Fuel oil exports to Asian destinations last week were over 1.5 million barrels, the biggest shipment in a while, according to price reporting agency SP Global Platts.
Tighter fuel oil supplies may be on the horizon as the Bahrain Petroleum Company will have pulled out of the fuel oil business by 2025, the report said.
Stocks of middle distillates were down 2% last week over the week before, it said.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Fujairah | 555.50 | 7.50 | 753.00 | 1.50 |
| Singapore | 565.50 | 4.50 | 678.50 | 4.50 |
| Rotterdam | 512.00 | 3.50 | 676.00 | 9.00 |
| Houston | 552.00 | 3.00 | 682.00 | 4.00 |
| Global 20 Ports Average | 583.50 | 4.00 | 762.50 | 2.50 |
| Global 4 Ports Average | 546.50 | 4.50 | 697.50 | 2.50 |
| Global Average Bunker Price | 632.50 | 2.00 | 811.00 | 1.50 |
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