Markets saw prices move down on Wednesday, with key indicator ports Singapore, Rotterdam, Fujairah, and Houston all seeing IFO380 make modest downward movements between $4.00 and $5.50 pmt, Ship & Bunker reports.
Singapore IFO380 fell $4.50 to $643.50 per metric tonne (pmt) for a week-on-week loss of $1.00, and MGO dropped $7.00 to $971.00 pmt.
Hong Kong saw IFO380 slip $5.00 to $622.00, while MGO was down for a fourth consecutive market day losing $3.00 to bring the price to $993.00 pmt.
Rotterdam IFO380 dropped $5.00 to $622.00 pmt, low sulfur 380 cSt product (LS380) moved down $5.50 to $656.50, and MGO fell for a fourth consecutive day slipping $3.00 to $993.00 pmt.
Fujairah 380 cSt product lost $5.50 moving the price to $645.00 pmt, while MGO was down $1.50 to $1033.00 pmt.
Houston IFO380 fell for a second consecutive day dropping $4.00 to $632.00 pmt, LS380 slipped $4.50 to $733.50, and MGO was down $8.50 to $1057.00 pmt.
LA / Long Beach IFO380 ended five consecutive days of gains and moved down $7.00 to $688.50, and LS380 fell $12.00 to $804.50 bringing the premium for the low sulfur fuel to $116.00 pmt.
The WTI spot price edged up just $0.03 to close at $92.23 per barrel.
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