By Srinivas Chowdary Sunkara // petrobazaar // 22nd August, 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 a flat trend yesterday. In Singapore, IFO 180 cSt and IFO 380 cSt graded fuel oil priced edged up $6 at $388.5 and $358.5 respectively while MGO and MGOLS futures prices inched up by $3 to $559.5 and $569.5 during yesterday's session. Meanwhile The world crude bench mark index, Stucked amid fears of recession and sluggish demand outlook, closed flat yesterday.
FIS reported that the profits from turning crude into diesel in the second half of 2019 are forecast to be about 31% higher than the first six months, according to Goldman Sachs group Inc. Margins have already expanded around 40 percent since late April as IMO regulation approaches. There has also been improving margins for low sulfur crude with a high diesel yield. A shipment of Russia's Sokol was recently sold at about $5.8 a barrel premium to its benchmark price while an Australian Pyrenees grade was sold at a premium of about $14.5 compare with early 2017 when it traded as low as $1.6.
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