By Srinivas Chowdary Sunkara // petrobazaar // 25th Dec 2019.
The Bunker Price Index consist of a range of prices for 180 HSFO, 380 HSFO and MGO(Gasoil) in the main world hubs gained significantly across the world major ports yesterday. IFO 180 cSt and 380 cSt graded fuel oil futures prices posted 1% loss from its previous session to settle at $401 and $371 respectively while MGO(Gasoil) futures prices closed $1 down at $658 during the session. The world crude oil bench mark futures prices gained yesterday after Russia's statement to continue cooperation with OPEC group added to the optimism surrounded by the U.S and China coming closer to sign the first phase of trade agreement.
IMO-2020 regulations have brought in tremendous innovation in the industry from new ways to create fuels to innovative algorithms to test fuel quality from new chemicals to reduce risk to Blockchain solutions to improve transparency. Industry's innovation and entrepreneurship will ensure that customers around the world will have more choices while simultaneously reducing their risk as per Mr.Ananth Srinivasan as published in ship&bunker.
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imo news courtesy:ship&bunker