By Srinivas Chowdary Sunkara // petrobazaar // 3rd Sep, 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 firm down trend during the yesterday's session. In Singapore, Fuel Oil 180 cSt and 380 cSt graded futures prices dived by $43 at $415.5 and $385.5 respectively while MGO and MGOLS futures prices plunged by $18 to $560 and $570 yesterday. Meanwhile the world oil price index dropped after US and China started implementing new import tariffs wef Sep 1st.
Ship&Bunker reported that a rollercoaster month for HSFO prices has resulted in August offering little clarity on what the premium for IMO2020 grader bunker will be. This is despite spot price indications for 0.5% sulfur VLSFO now being available for a number of key ports. However dramatic HSFO price movements during the period meant Singapore saw the VLSFO premium hit a high of $213.5/mt on August, 15, before narrowing to a low of only $81/mt on Thursday.
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