By Srinivas Chowdary Sunkara // petrobazaar // 23th 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 turned into upward correction on Friday after a steep fall during the last week. In Singapore, Fuel oil 180 cSt and 380 cSt graded product prices rose $6 or 1.11% to $548.5 and $518.5 respectively while MGO prices inched up $5 to close at $620 during the last session. The world crude oil indexes fell on Friday, paring the earlier gains after the renewed concerns over the U.S-China trade war by the market.
Ship&Bunker reported that the early arrival of the end of HSFO drove the prices to month's low and subsequent tightening of supply in several key ports sent prices back up again. Last week's attacks on Saudi's oil facilities was the key driver for a final dramatic rise, fell during the later sessions which bounced back during the week end session.
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