:: Bunkering --- ID :: 16636
Bunker Price Index // 26-09-2019
Fuel Oil futures prices turned around above 5%

By Srinivas Chowdary Sunkara // petrobazaar // 26th Sep, 2019.

The Bunker Price Index consist of a range of prices for 180 HSFO, 380 HSFO and MGO(Gasoil) in the main world hubs continued down side correction logging another session of losses. Fuel oil prices in Singapore market gained upward momentum with above 5% uptick yesterday. Both the Fuel oil 180 cSt and 380 cSt graded product futures prices rose $25 to $497.5 and $467.5 respectively while MGO futures prices shed $9 to $599.5. Meanwhile the world crude oil benchmark prices are back to the levels prior to Aramco's drone attacks after paring all gains post Sep 14th.

shipandbunker reported that India looks to have backtracked on its plans for only partial implementation of the upcoming IMO2020 rule. State run Indian Oil Corporation(IOC) said that it will have IMO2020 grade VLSFO available in India as early as October. Comments from Shipping minister indicated that the country would not apply the new 0.5% sulfur cap to ships operating in its domestic trade. However, Platts was told that the domestic shipping will start complying as soon as the low sulfur fuel is available.

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