Bunker Prices Finish The Week on a High

by Ship & Bunker News Team
Friday August 10, 2012

Gobal bunker prices ended the week on a high in most markets, with a number of ports seeing 5 or more consecutive market days of gains.

Singapore IFO380 gained $0.50 to make it 5 days of gains to finish the week $23.50 higher at $654.00, while MGO gained $2.50 to $964.50, $51.00 above last Friday's price of $913.50 per metric tonne (pmt).

Hong Kong's gain of $3.50 made it 6 consecutive market days of rising prices for IFO380, finishing the week at $668.50 pmt and $22.00 higher than last Friday, while MGO added $2.50 to yesterday's price to end the week $46.50 higher than last Friday at $970.00 pmt.

Rotterdam 380 cSt product also made it a week of gains by adding $2.50 to the price of IFO380, finishing the week at $637.50 for a week-on-week gain of $29.50, while MGO made it 7 consecutive market days of gains finishing $10.50 higher than yesterday at $952.00 pmt.

Fujairah IFO380 has yet to see a day in August without a price gain, today adding $2.00 to move up to $665.00 pmt with a week-on-week gain of 24.50, while MGO fell $2.00 to $1007.00 pmt.

Houston IFO380 gained $3.50 to $640.50 and a week-on-week gain of $26.50, 1.00% maximum sulfur 380 cSt product (LS380) gained $3.00 to $749.50 pmt, and MGO rose $12.00 to push it into four figures at $1001.00 pmt.

LA / Long Beach gained $4.00 today to $671.00 for a week-on-week gain of $53.00 pmt, while Emissions Control Area (ECA) compliant LS380 rose $13.00 to $930.00 pmt.

The WTI spot price dropped $0.49 to $92.87 per barrel.

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