World News
Bunker Prices Tumble on Tuesday
Global Bunker prices dropped on Tuesday, with many ports in the EMEA region and Asia seeing a return to double-digit drops.
IFO380 in Singapore fell $17.00 to $587.00, the lowest price in two weeks, while MGO dropped $17.50 to $831.50.
Hong Kong IFO380 reversed a three day upward trend dropping $10.00 to $612.00 per metric tonne (pmt).
Rotterdam shed $16.50 from its IFO380 price bringing it down to $564.50, the lowest price since 4 June, 2012.
Fujairah 380 cSt grade fuel was down double-digits falling $16.50 to $593.00, the lowest price this month.
In Houston IFO380 bunkers were down $3.50 to $575.00, joining last Thursday as the lowest price of the month.
LA / Long Beach made it 8 days of drops for IFO380 prices, moving down $9.00 to $578.00.
WTI was up on Tuesday gaining $0.76 and closing at $84.03 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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