• 2021 January 27 09:48

  MABUX: Bunker market this morning, Jan 27, 2021

  

  The Bunker Review was contributed by Marine Bunker Exchange (MABUX)
  
  MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO Gasoil) in the main world hubs) slightly increased on Jan.26:
  
  380 HSFO: USD/MT – 365.45 (+1.00)
  VLSFO: USD/MT – 461.00 (+1.00)
  MGO: USD/MT – 515.25 (+0.12)
  
  
  
  
  
  

   

   

   

   

   

   

   

   

   

   

  Correlation between the Market Bunker Price Index (MBP) vs MABUX Digital Bunker Price Index (DBP) in four major hubs on Jan.26 showed undercharging of 380 HSFO bunker grades in all ports. Fujairah and Houston are undercharged only for 1USD and 2USD respectively. VLSFO is overcharged in all hubs. MGO LS remained undervalued in all ports except of Houston (+ 11 USD).
  
  
  
  

   

   

   

  Meantime, world oil indexes demonstrated slight irregular changes on Jan.26.
  
  Brent for March settlement increased by $0.03 to $55.91 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for March fell by $0.16 to $52.61 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $3.30 to WTI. Gasoil for February delivery added $2.50.
  
  Today oil indexes rise amid surprise U.S. crude stockpiles draw and decreasing daily rise in COVID-19 cases in China.
  
  According to the American Petroleum Institute (API), crude oil inventories in the United States fell by 5.3 million barrels last week compared with expectations for a build of 430,000 barrels. However, the data showed gasoline stocks rose by 3.1 million barrels, which was much more than expected. The API data showed distillate fuel inventories, which include diesel and heating oil, rose by 1.4 million barrels, compared to expectations for a draw of 361,000 barrels and refinery runs fell by 76,000 barrels per day. However, prices were supported by easing worries about a sharp drop in travel over the Lunar New Year in China, the world's largest oil importer, as the number of COVID-19 cases appears to be declining. The data showed 75 new confirmed cases of COVID-19 on Jan.27, the lowest daily rise since Jan. 11.Government officials have been urging people not to travel during the Lunar New Year holiday break, when hundreds of millions usually travel, to help contain a new wave of coronavirus infections.
  
  We expect bunker prices may demonstrate irregular changes within 3-5 USD.

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