By Srinivas Chowdary Sunkara // petrobazaar // 23rd Oct, 2019.
The Bunker Price Index consist of a range of prices for 180 HSFO, 380 HSFO and MGO(Gasoil) in the main world hubs trended down. In Singapore, Fuel oil futures prices settled 2.51% down after rising for last four trading sessions. IFO 180 cSt and 380 cSt graded fuel oil prices settled $10 down at $388.5 and $358.5 respectively while MGO prices are closed $1.5 up at $586.5 yesterday. The world oil prices inched up yesterday on a positive note by China on progress in trade talks and rumors on continuation of production cuts by supplier's group while mounting concerns over faltering demand and swelling inventories muted the gains yesterday.
Qatar Petroleum started supplying Very low sulfur fuel oil ahead of the global switch to bunker fuel capped at 0.5% sulfur according to its official website. Bunkering at Ras Laffan has been in place since 2017 to cater for the Qatargas LNG fleet as well as other ships making calls at the port.
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