By Srinivas Chowdary Sunkara // petrobazaar // 3rd December 2019.
The Bunker Price Index consist of a range of prices for 180 HSFO, 380 HSFO and MGO(Gasoil) in the main world hubs ticked up yesterday. IFO 180 cSt and 380 cSt graded futures prices settled $12 down at $333 and $303 respectively while MGO futures dropped $6.5 to $576.5 yesterday. The world crude oil futures prices clocked 1% gains yesterday on supply cuts talks along with the positive manufacturing data from China. Gasoil futures prices for fuel delivered over the course of 2020 are around $17 per barrel higher than brent, down from $19 at the same time last year and show no sign of pressure on fuel supplies according to Reuters market analyst John Kemp as published in ship&bunker.
Disclaimer: Views and opinions expressed here are personal. This commentary is for information purposes only and not an offer or a solicitation to sell or buy any physical commodities or financial instruments. The views and analysis are based on reliable public information available at the time of writing. This report and its content cannot be copied, redistributed or reproduced in part or whole without the prior written permission of petrobazaar.com