By Srinivas Chowdary Sunkara // petrobazaar // 26th 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 high yesterday. Fuel oil futures prices in Singapore market slipped by 2.6%. IFO 180 cSt and 380 cSt graded fuel oil futures prices closed $9 down at $339 and $309 respectively. The world crude oil benchmark price indexes moved steadily with caution on hopes of world major economies are coming closer to agree the first phase of terms.
Fujairah in the United Arab Emirates is in the top three of global bunkering volumes sold. ship&bunker reported that the fuel oil stocks in Fujairah are rising heavy fuel hitting a two year high according to the latest market data ahead of IMO-2020. According to Platts Fujairah inventory data, at the start of last week, heavy distillates and residues stood at around 15.5 million barrels with light distillates at just over 6 million barrels.
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imo news courtesy:ship&bunker