By Srinivas Chowdary Sunkara // petrobazaar // 24th March 2020.
The Bunker Price Index consist of a range of prices for 380 HSFO, MDO and MGO(Gasoil) in the main world hubs traded lower yesterday. In Singapore, HSFO 380 cSt prices inched up $4.62 at $189.87, MDO prices are traded $12 down at $273 while MGO prices sank $12 to $283. Meanwhile, Crude oil benchmark price indexes are inched up yesterday on hopes that government and central bank stimulus will boost world economies which in turn ignite the oil demand. Apart from that market is hoping that the Saudi and Russia might reconcile after their deal to rein in supplies fell more than two weeks ago. The number of Fuel oil non-availability reports (FONARs) filed to the International Maritime Organisation declined to 6 in Feb from 41 in Jan. Fuel Oil Non-availability reports are filed to the flag state where they are registered in the even that they are unable to buy compliant fuels and plan to use non-compliant fuels instead.
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