By Srinivas Chowdary Sunkara // petrobazaar // 31st March 2020.
Bunker Price Index consist of a range of prices for 380 HSFO, VLSFO, MGO and MDO futures prices changed irregular and insignificant across the world major ports. Fuel oil futures prices are traded down in Singapore market. IFO 380 cSt graded fuel oil futures prices changed down $15 or 7.5% to $185, MDO prices were down $20 or 6.66% to $280 while MGO futures prices decreased by $20 or 6.45% to $290 yesterday. Meanwhile, The world crude oil benchmark futures prices are rebounded today trading above 5% + on strong Chinese PMI data for the month of March beating expectation for an economy hit by corona virus outbreak. U.S-Russian consultations on pulling up chair to negotiation table with Saudi also supported oil complex. Singapore has declared itself “open for cargo operations and marine services, including bunkering, ship supplies and shipyard repairs. Many ports are imposing restrictions on shipping operations.
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