Global oil prices are growing amid gradual lifting of constraints and Russia’s reduction of oil production
Global oil prices are on the rise in expectation of demand recovery following the lifting of constraints in many countries.
According to Bunker Price Bulletin of IAA PortNews, the average indicative price at the port of Vladivostok for IFO-380 НS - $150 pmt, MGO (DMB) - $345 pmt, VLSFO 0.5% - $275.
The market players say the prices are just indicative with limited volumes of non-compliant fuel oil available and low demand of it in the area.
The difference between maximum/minimum prices depends on the amount of fuel sold and its availability.
Bunker prices are stable at the port of Singapore:
- IFO-380 НS - $205
- VLSFO 0,5% - $270
- MGO - $287
From 1 January 2020 the global upper limit on the sulphur content of ships' fuel oil is reduced to 0.50%.
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