Bunkering news09-08-2018

Check out for Prices!

By Srinivas Chowdary Sunkara // petrobazaar // 9th August, 2018.

Both the fuel oil prices soared by 1.31 pct or $6.5 in Singapore market yesterday. MGO prices gone up by $5. Peak seasonal demand along with the talk of tightness supported the fuel prices. Backwardated market structure is encouraging drawings from storage hubs. A fresh spot supply from the middle east eased the concern of tightness as  per the reports. MGO sales were improved in Panama despite of tough market conditions. In Panama, Bunker sales rose 3.8% in H1 While fuel oil sales are down in June as per the latest report released by Panama Maritime Authority.

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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

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