By Srinivas Chowdary Sunkara // petrobazaar // 10th Oct, 2019.
The Bunker Price Index consist of a range of prices for 180 HSFO, 380 HSFO and MGO(Gasoil) in the main world hubs continued to show down ward revision yesterday. In Singapore market, Fuel oil futures prices remained unchange. IFO 180 cSt and 380 cSt graded fuel oil futures prices remained at $332.5 and $302.5 respectively while MGO(Gasoil) prices were flat at $574.5. The world crude oil prices traded flat yesterday amid the mixed fundamentals. Though Turkey's military operations in northeast Syria supported oil complex, Lingering worries on uncertainty over US-China trade deal and bearish weekly data mitigated the upside momentum.
IMO 2020 NEWS: First sale of very low sulfur bunker by Petrol Ofisi
AS the bunker market approaches the deadline of switching over to 0.5% low sulfur fuel, The shape of the demand for the fuel is becoming visible during the 4th quarter. Turkish bunker supplier Petrol Ofisi made its first sale of 0.5% sulfur bunker fuel for a stem of 100Mts at $560 per Mt late last week as reported by ship&bunker. Further stems of VLSFO are expected this week.
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