By Srinivas Chowdary Sunkara // petrobazaar // 13th Sep, 2019.
The Bunker Price Index consist of a range of prices for 180 HSFO, 380 HSFO and MGO( Gasoil) in the main world hubs continued to demonstrate the upside momentum during the yesterday's session. In Singpaore, Fuel Oil 180 cSt and 380 cSt graded futures prices went up by $13 to $463.5 and $433.5 while gasoil futures prices edged down by $4.5 to $585 yesterday. Furnace oil and Light Diesel oil retail prices are very likely to revise up for the second half of Sep, 2019 following the global bunker price trend.
Shipandbunker reported that the Singapore based derivatives exchange selected Argus Media's 0.5% sulfur fuel oil prices assessments as the settlement price for a new derivatives contract. Argus Media and Asia Pacific Exchange(APEX) have already signed a licensing however the start date not yet confirmed. Market predict the increased price volatility over the short to medium term from the start of next year as the bunker market react to the impact of 0.5% sulfur cap on marine fuel in place from the start of next year.
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