By Srinivas Chowdary Sunkara // petrobazaar // 12th June 2020.
The Bunker Price Index consist of a range of price for 380 HSFO, MDO and MGO(Gasoil) in the main world hubs traded flat yesterday. In Singapore, HSFO 380 cSt prices traded at $242.75 after a drop of 6 pct in the previous session while MDO and MGO prices were remained unchanged at $314.25 and $351.5 respectively after a dip in the earlier session. Fuel oil exports from Middle eastern oil hub of Fujairah dropped to 18 month low in May as per S&P global platts, published by ship&bunker. Rising freight rates in April and May as well as good availability of fuel oil in Asia-Pacific region, kept the need for exports from the Middle East low.Meanwhile The world crude benchmark price indexes slumped yesterday after a climb in corona virus cases in U.S that has raised the prospect of second wave of the outbreak slamming the demand in the world's biggest consumer of fuel and crude.
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