By Srinivas Chowdary Sunkara // petrobazaar // 22nd July, 2019.
Bunker index continued to moderate downward evolution on Friday. Both the IFO 180 cSt and 380 cSt grade fuel oil prices were closed $0.1 up to $484 and $454 while MGO prices rose $2.5 to $589 on Friday. The Fuel oil prices posted a weekly loss of $41 or 7.98% during the last week. The world oil indexes also dived sharply last week after a surprise build in U.S stocks and weak macro economics.
IMO-2020 NEWS : 0.5% CAP IS AN ENORMOUS ECONOMIC OPPORTUNITY.
Venezuela's massive pull out of business created a big vacuum to the U.S gulf coast and faded the perspective that the 2020 cap could seriously affect the Canada's heavy crude market. According to a 2016 report from Morning star Inc, 0.5% cap is actually seen as the opportunity for the owners of complex plants and helpfully over 80% of USGC crude processing capacity has the coking units needed to fully process heavy crude.
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IMO NEWS COURTESY:SHIP&BUNKER
