Wednesday bunker prices fall to lowest levels in over a month
Bunker prices continued to trend down Wednesday, as a third day of drops for benchmark grade IFO380 in key marine fuel price indicator ports Singapore, Rotterdam, Fujairah, and Houston put prices at their lowest level in over a month, Ship & Bunker reports.
Singapore IFO380 dropped $8.50 to $669.00 per metric tonne (pmt) the lowest price since August 17, 2012, and MGO was down $9.50 to $982.50 pmt.
Hong Kong saw IFO380 fall $8.00 to $686.00 making a week-on-week loss of $17.50, while MGO lost $10.50 to $996.50 pmt.
Rotterdam IFO380 slipped $12.50 to $642.50 pmt, the lowest price since August 13, 2012, 1.00% maximum sulfur 380 cSt product (LS380) dropped $13.50 to $699.00, and MGO fell $14.00 to $979.50 pmt.
Fujairah 380 cSt product fell $12.50 to $670.50 pmt, the lowest price since $668.50 on August 13, for a week-on-week loss of $19.00, while MGO was down for a second consecutive market day losing $9.50 to $1037.00 pmt.
Houston IFO380 was at its lowest price since August 15, 2012 and down $12.50 to $650.50, LS380 dropped $8.50 to $758.50, and MGO moved down $18.50 to $1033.50 pmt.
LA / Long Beach IFO380 was up $5.50 pmt to $654.50, and LS380 gained $9.50 to $819.50 bringing the premium for the low sulfur grade to $165.00 pmt.
Wednesday saw the WTI spot price fall for a third consecutive day sliding $3.31 (-3.47%) to close at $91.98 per barrel, making it a drop of $7.02 in three days.