Ship & Bunker price data showed IFO380 at key price indicator ports Singapore, Rotterdam, Fujairah, and Houston began to firm on Tuesday with gains between $2.50 and $4.00 pmt. Crude made its biggest gain in a month with WTI rising by just over 3.5%, Ship & Bunker reports.
Singapore IFO380 moved up for the first time since October 19, 2012 gaining $4.00 to $601.00 per metric tonne (pmt), and MGO climbed $2.00 to $922.00 pmt.
Hong Kong IFO380 fell for a fourteenth consecutive market day slipping $4.50 to $616.00 pmt making a loss of $35.00 (-5.38%) over the past month. MGO fell for a sixth consecutive market day dropping $10.50 to $940.00 pmt.
Rotterdam IFO380 saw its first rise since October 25, 2012 and moved up $3.50 to $582.00, low sulfur 380 cSt product (LS380) climbed $8.50 to $617.50 the first price gain since October 29, 2012, and MGO was up $6.50 to $920.00 pmt.
Fujairah 380 cSt product climbed $2.50 to $600.00 pmt ending seven consecutive market days of falling prices, while MGO moved up $2.00 to $1020.50 pmt.
Houston IFO380 gained $3.50 to sit just bellow $600.00 at $598.50 pmt the first positive movement since October 29, 2012, and LS380 was up $9.50 to $700.00 making the premium for the low sulfur fuel $101.50 pmt. MGO at the port fell for a fifth consecutive market day losing $3.00 to bring the price to $994.50 pmt.
LA / Long Beach IFO380 fell sharply for a second consecutive day down $19.00 to $662.50 pmt, and LS380 slipped $14.00 to $737.50 making the premium for the Emissions Control Area (ECA) compliant fuel $75.00 pmt.
The WTI spot price saw significant gains moving up $3.06 (3.57%) to close at $88.71 per barrel.
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