Mid-week bunker prices move down
Many ports saw bunker prices moving down on Wednesday, with key indicator ports Singapore, Rotterdam, Fujairah and Houston all seeing IFO380 lose between $5.00 and $10.00. Crude tumbled with the WTI spot price losing just over 4%, Ship & Bunker reports.
Singapore IFO380 was down $5.00 to $649.50 per metric tonne (pmt), a dollar lower than last Wednesday, and MGO fell $2.00 to $961.00 pmt.
Hong Kong saw IFO380 lose $3.00 to $666.50 pmt for a week-on-week loss of $5.50, while MGO gained $0.50 to $983.50 pmt.
Rotterdam IFO380 fell $9.00 to $626.50, the lowest price since August 7, 2012, 1.00% maximum sulfur 380 cSt product (LS380) dropped $13.00 to $676.00 pmt, and MGO was down for a third consecutive market day losing $4.50 to $963.00 pmt.
Fujairah 380 cSt product was down $6.50 to $649.50 pmt, while MGO moved up for the first time since September 28, 2012 rising $1.00 to $1034.50 pmt.
Houston IFO380 dropped for a second consecutive day falling $10.00 to $634.00, LS380 was down $13.00 to $734.00 pmt, and MGO slipped $6.00 to $1030.00 pmt.
LA / Long Beach IFO380 was down for a third consecutive market day losing $4.00 to $662.50, and LS380 fell $3.50 to $761.50 pmt making the premium for the low sulfur grade $99.00 pmt.
The mid-week WTI spot price moved down for a second consecutive day and lost $3.75,or 4.08%, slipping bellow $89.00 for the first time since August 2, 2012 to close at $88.14 per barrel.