By Srinivas Chowdary Sunkara // petrobazaar // 23rd April 2020.
The Bunker Price Index consist of a range of prices for HSFO, VLSFO, MDO and MGO, unchanged today across the world major ports. In Singapore, Fuel oil prices for 380 cSt and 180 cSt grades remained flat at $157.75 and $297.41 while VLSFO , MGO prices closed at $215 and $225 respectively. Meanwhile the world crude oil benchmark prices rose spurred by rising tension in the Middle East, Output cut talks and expected more stimulus packages from U.S government to ease the economic pain caused by corona outbreak. According to price reporting agency S&P Global Platts, Demand for Japan's High sulfur bunker fuels should remain buoyant over the short term citing the reasons that boosting demand from scrubber fitted vessels. 380 centistoke(cSt) bunker fuel will see the upside in the near term. It is known that 3.5% sulfur bunker was superceded by 0.5% bunker fuel as the market's benchmark at the start of the year.
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