By Srinivas Chowdary Sunkara // petrobazaar // 30th March 2020.
Bunker Price Index consist of range of prices for 380 HSFO, VLSFO , MGO and MDO futures prices changed irregular and insignificant across the world major ports. Fuel oil futures prices rose in Singapore market. IFO 380 cSt futures prices changed $4.74 up at $200 , MDO futures prices are increased by $12 to $310 where as MGO futures prices settled $12 up at $310 on Friday. Meanwhile the world benchmark crude oil futures prices closed lower on Friday, registered 5th weekly loss in a row. Today, Asian markets opened in red and continued to slump on destruction of oil demand across the world caused by spreading virus, over weighed stimulus packaged announced. Turning to news, The U.K maritime authority suspended checking of compliant fuel as part of a raft of measures to keep ships moving during the Covid-19 pandemic. In India, F.O prices are likely to be reduced for the first quarter of April, 2020.
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