Bunker Price Index 21-01-2020

Check out for Prices!

By Srinivas Chowdary Sunkara // petrobazaar // 21st January 2020.

BUNKERING NEWS

The Bunker Price Index consist of a range of prices for IFO 380, IFO 180 , MDO and MGO,  Showed an upward momentum yesterday across the world major ports. In Singapore market, 180 cSt and 380 cSt graded fuel oil futures prices moved up $10 to $390 and $380 respectively while MGO prices are remain unchanged at $656.5. Meanwhile the world crude oil benchmark futures prices sagged up after an OPEC member country, Libya began shutting down two large crude production bases and the upside was limited after the analysts said that the current scale of outages to be fairly short lived.

IMO-2020 NEWS

A blockade on Libyan oil production would have a significant affect on the low sulphur crude markets in the Mediterranean. That would have incidental affect for VLSFO  pricing in the region as Libyan crude produces a high yield of the middle distillate components used for low sulfur marine fuel blending. A prolonged outage is set to take 1Million b/d out of the Mediterranean sweet crude market that could potentially drive the sharp increase in VLSFO Prices in the region. 

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

imo news courtesy:ship&bunker

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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