:: Bunkering --- ID :: 18906
Bunker Price Index // Week 16-20 Aug 2021
Lower Brent prices weighed on Bunker prices

By Srinivas Chowdary Sunkara // petrobazaar // 24th January 2021.

BUNKERING NEWS

The Bunker Price Index consist of a range of prices for 380 HSFO, MDO and MGO(Gasoil) in the main world hubs plunged across the major world ports. In Singapore, HSFO 380 cSt prices slumped $27.25 or 6.69%  to close at $337.25  MDO price slipped $34 or 6.62 pct while MGO price indexes showed a downward evolution of $39 or 6.9 %. In India, Furnace oil prices are trended to go down for the first half of Sep, 2021.

FUEL OIL PRICE MOVEMENTS

Global bunker prices plunged to monthly lows last week following a sharp drop in Brent crude. Fujairah and Singapore saw their VLSFO dropping below $500 per Mt. Lead time for low sulfur fuels have gone up in Fujairah. HSFO still tight with lead time stretching to eight days. Both HSFO and VLSFO remain tight for prompt days in the bunkering hub for another week while LSMGO continuous to be more readily available, around seven to nine days of lead time are recommended for VLSFO and HSFO. Singapore's middle distillate stocks dropped by half a million barrels on the week to their lowest levels since early Jan, 2020. Chinese bought of Xue Shan is facing a supply shortage of both HSFO and VLSFO this week, With the low sulfur fuel grade being tight with most suppliers.  replenishment of VLSFO is expected from next week, while HSFO will be available again toward the end of the month. LSMGO is the only fuel grade currently being offered in the port and in good availability. 

Good day to all

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