Bunker prices continue to drop on Thursday
Few gains were seen outside of Latin and Central America as bunker prices fell again on Thursday. Key price indicator ports Singapore, Rotterdam, Fujairah, and Houston all saw IFO380 fall for a second consecutive day, Ship & Bunker reports.
Singapore IFO380 moved down $2.00 to $648.50 per metric tonne (pmt), and MGO was down for a fourth consecutive market day losing $6.00 to $952.50 pmt.
Hong Kong saw IFO380 fall $7.00 to $665.00 making a week-on-week loss of $9.00, while MGO also dropped $7.00 bringing the price to $975.00 pmt.
Rotterdam IFO380 was down $5.00 to $629.00 pmt, 1.00% maximum sulfur 380 cSt product (LS380) was steady at $680.50, and MGO was up $0.50 to $960.00 pmt.
Fujairah 380 cSt product fell $3.50 to $648.50 pmt and $1.50 lower than the price this time last week, and MGO slipped $0.50 to $1034.50 pmt.
Houston IFO380 dropped $2.50 to $640.50, LS380 lost $2.00 to bring the price to $741.50, while MGO gained $3.00 to $1029.00 pmt.
LA / Long Beach IFO380 gained for a second consecutive day up $10.00 to $688.00 pmt, and LS380 was up $11.00 to $835.00 making the premium for the low sulfur fuel $147.00 pmt.
The WTI spot price moved up for the first time since September 21, 2012 jumping $1.87 (2.08%) to close at $91.85 per barrel.