Global oil prices are on the rise
Global oil prices are going up in expectation of crude production cuts to be continued by OPEC+ till September 1.
According to Bunker Price Bulletin of IAA PortNews, the average indicative price at the port of Vladivostok for IFO-380 НS - $155 pmt, MGO (DMB) - $355 pmt, VLSFO 0.5% - $270.
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 - $215
- VLSFO 0,5% - $265
- MGO - $324
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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