By Srinivas Chowdary Sunkara // petrobazaar // 15th April, 2020.
The Bunker Price Index consist of a range of prices for 380 HSFO, VLSFO, MDO and MGO traded up across the world major ports. Fuel oil 380 cSt futures prices went up $13.25 to $224, MDO futures prices went down while MGO futures prices settled $6.5 up at $277 yesterday. Followed by the drop in crude oil prices and marine fuels left the VLSFO prices converging to the closest levels on record at the top bunkering hubs. The VLSFO spread between the most and least expensive narrowed by $7.50/mt to $23/mt on Monday according to ship&bunker. Meanwhile, The world crude oil bench mark futures indexes moved down as the markets apparently unconvinced that record supply cuts could soon balance markets plummeted by the coronavirus pandemic.
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