By Srinivas Chowdary Sunkara // petrobazaar // 17th 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 demonstrated mixed trend and closed down insignificantly yesterday. In Singapore market, Fuel oil futures prices rose 3.35% after shedding above 8% in the previous two sessions. IFO 180 cSt and 380 cSt graded fuel oil futures prices rose $12 to $370.5 and $340.5 respectively where as MGO (Gasoil) futures prices edged up $3.5 to $585. The world crude oil futures gained yesterday in a skeptical trading. Production cut talk and weak dollar supported oil complex whereas swelling US inventories news weighed on.
We are 77 days away from the day of IMO 2020 rule comes into force. Finally, Market transition is under way. All bunker buyers, Physical suppliers and others in the chain spent lot of time preparing for most significant event. ship&bunker published the checklist to ask yourself to find out whether you are really ready or not?
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