By Srinivas Chowdary Sunkara // petrobazaar // 25th June 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 across the major world ports today. In Singapore, HSFO 380 cSt prices traded $1 or 0.4% up at $251 while MDO and MGO price indexes showed a downward evolution at $320.25 and $378 respectively. Meantime, The world crude oil price indexes demonstrated downward evolution after EIA report of build in U.S crude stocks coupled with resurgence of another wave of corona cases that might trim the oil demand.
FUEL OIL NEWS
Pakistan state-owned marketer, PSO is seeking to import 65000t of high-sulphur fuel oil (HSFO) from spot market for the first time since April 2019. The delivery is scheduled for 9-18 July. The tender will close on 29 June. Government approved to import the oil product to meet peak summer demand for power generation from Karachi based K-Electric. K-Electric daily furnace oil requirement have risen during the warmer months because of a shortage of the liquid fuel in the country.
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