Bunker prices are flat at the Far East ports of Russia (graph)
Global oil prices are going down in response to information about US oil reserves
Global oil prices are going down amid concerns over COVID-19 cases increase in the world affecting the demand. The decrease of prices is mitigated by information on record reduction of US oil reserves.
According to Bunker Price Bulletin of IAA PortNews, the average indicative price at the port of Vladivostok for IFO-380 НS - $230 pmt, MGO (DMB) - $425 pmt, VLSFO 0.5% - $335.
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 rise at the port of Singapore:
- IFO-380 НS - $273
- VLSFO 0,5% - $335
- MGO - $377
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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