By Srinivas Chowdary Sunkara // petrobazaar // 21st July 2020.
The Bunker Price Index consist of a range of prices for 380 HSFO, MDO and MGO(Gasoil) in the main world hubs traded up across the major world ports today. In Singapore, HSFO 380 cSt prices traded $14 or 5.31% up at $277.50 while MDO and MGO price indexes showed a upward evolution at $345.75 and $393 respectively. Meantime, The world crude oil price indexes moved up today on positive news about vaccine trials and EU leaders agreement on stimulus package to prop up their corono-virus-throttled economies which may lift fuel demand.
Ship&bunker reported that the competition has shown up in price spreads in the Panama region. Panama's VLSFO sales dropped by 25.2% from May's levels in June according to AMP data as reported by ship&bunker while high sulfur fuel oil sales gained 10.6%, Marine gas oil sank by 52.6% and low sulfur marine gas oil declined by 11.1%.
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