By Srinivas Chowdary Sunkara // petrobazaar // 18th Nov 2019.
Bunker Price Index consist of a range of prices for 180 HSFO, 380 HSFO and MGO(Gasoil) in the main world hubs settled higher on Friday. Fuel oil futures prices in Singapore closed 0.76% up on late week. IFO 180 cSt and 380 cSt graded fuel oil futures prices went $2.5 up at $332.5 and $303.5 respectively while MGO prices settled $3.5 higher. During the week, Fuel oil futures registered around 10% loss. The world oil indexes clocked weekly gains for the straight second week as the optimism over trade deal shrugged off over supply worries.
ship and bunker reported that LSFO volumes jumped to make up 15% of the over all total for October, While HSFO sales have fallen to their lowest in many years, constituted the first concrete signs of IMO2020, Shaking up the bunker sales product mix in Singapore. LSFO sales reported as 180 cSt and 380 cSt material had totaled 173500 Mt in September and represented just 4% of the over all total. For October the sales volumes jumped to 569900 Mt. HSFO sales, reported as 180 cSt, 380 cSt and 500 cSt material also reflected the fact that the start of IMO 2020 is just a little over six weeks away, falling 16% to 2776.3 Mt.
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