By Srinivas Chowdary Sunkara // petrobazaar // 27th August, 2019.
The Bunker Price Index consist of a range of prices for 180 HSFO, 380 HSFO and MGO(Gasoil) in the main world hubs demonstrated upside momentum across the world major ports yesterday. In Singapore, IFO 180 cSt and IFO 380 cSt graded fuel oil prices edged up $18.5 to $425.5 and $395.5 respectively while MGO and MGOLS futures oil prices inched down by $3 at $560 and $570 yesterday.
Argus reported that the Singapore marine fuels sales in July totaled 3.88Mt, down by 42000t from June and 150K tonnes from July last year as per the provisional data from Singapore's Maritine and Port Authority (MPA). Bunker sales are down by 1.8mt or 6.12% during January – July compared with the same period last year. Consumption of 380 cSt HSFO remained stable while 500 cSt HSFO fell in July. Demand for low-sulphur marine gasoil fell in July from June. Singapore's delivered 380 cSt HSFO prices averaged $450/t in July, Up from $385/t in June data collected by Argus showed.Meanwhile the world crude oil benchmark index fell amid volatility triggered largely by headlines relating to trade tariffs.
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