By Srinivas Chowdary Sunkara // petrobazaar // 29th April 2020.
BUNKER PRICE INDEX
The Bunker Price Index consist of a range of prices for HSFO, VLSFO, MGO and MDO, traded flat today across the world major ports. Fuel oil prices are unchanged in Singapore market. Fuel oil prices for 380 cSt graded futures traded at $187 after rising $33 or 21 pct during the previous session, MDO and MGO prices closed at $214 and $224 respectively today after climbing around 13 pct during the previous session. Meanwhile the world crude oil price indexes climbed today following the report showed a smaller than expected build in U.S inventories with reference to the API report out yesterday. Traders are looking at the positive indications that demand-supply gap may become smaller soon. Russian state owned oil company Rosneft sold 112,000 mt of its new very low sulfur fuel oil (VLSFO) blend in the first quarter. Rosneft aims at the rational use of natural resources as per the company. Following the fuel oil markets trend across the world ports, Furnace oil prices are expected to come down as on May 1st 2020 in India.
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