Bunker prices continue to fall
Crude prices stabilised on Thursday, however many ports saw bunker prices make heavy losses. Key price indicator ports Singapore, Rottderdam, Fujairah, and Houston all saw IFO380 fall to new six week lows after a fourth consecutive day of losses, Ship & Bunker reports.
Singapore IFO380 slumped $22.50 to $646.50 per metric tonne (pmt), the lowest price since August 6, 2012, and MGO fell $23.00 to $959.50 pmt.
Hong Kong saw IFO380 drop $12.00 to $674.00 for a week-on-week loss of $31.00 pmt, while MGO was down $11.00 to $985.50 pmt.
Rotterdam IFO380 fell to the lowest price since August 7, 2012 losing $15.50 to $627.00 pmt, 1.00% maximum sulfur 380 cSt product (LS380) slid $24.50 to $674.50, and MGO dropped $21.50 to $958.00 pmt.
Fujairah 380 cSt product was down $20.50 to $650.00, the lowest price since August 6, 2012, while MGO fell $2.50 to $1034.50 pmt.
Houston IFO380 was at its lowest price since August 9, 2012 falling $13.00 to $637.50 pmt, LS380 lost $20.50 to bring the price to $738.00, and MGO was down $11.00 to $1022.50 pmt.
LA / Long Beach IFO380 moved up for second consecutive day gaining $11.00 to $665.50 pmt, and LS380 was up $7.00 to $826.50 making the premium of the low sulfur product $161.00 pmt.
The WTI spot price continued down for a fourth consecutive day, but today making a much more modest loss of $0.11 to close at $91.87 per barrel.