By Srinivas Chowdary Sunkara // petrobazaar // 30th April, 2019.
Fuel Oil prices in Singapore market continued to edged down for the second day. Fuel Oil 180 cSt and 380 cSt graded fuel oil prices are slipped by $7.5 or 1.58% yesterday. MGO prices were traded down at $619.5. Yesterday, The global crude markets resumed previous rally, halted on Friday, As the market downplayed the Trump's comments since there was no acknowledgement from producer's group. Following the global markets trend, Industrial fuel oil prices are likely to revise up in India tomorrow.
Coming to 'IMO 2020' – compliance news, The Argus Strategy conference in Houston heard that preparing onshore fuel storage tanks for IMO-2020-compliant fuels would reduce the turnaround time for bunker barges. Singapore bunker operators earlier predicted the rise in cost of delivering the bunkers to ships as the the cleaning of tanks with additives takes months time.
Disclaimer: Views and opinions expressed here are personal. This commentary is for information purposes only and not an offer or a solicitation to sell or buy any physical commodities or financial instruments. The views and analysis are based on reliable public information available at the time of writing. This report and its content cannot be copied, redistributed or reproduced in part or whole without the prior written permission of petrobazaar.com
