• 2021 February 16 09:41

  MABUX: Bunker market this morning, Feb 16, 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) increased on February 15:
  
  380 HSFO: USD/MT – 399.12 (+11.38)
  VLSFO: USD/MT – 501.29 (+1.91)
  MGO: USD/MT – 556.64 (+3.66)
  
  
  
  
  
  

   

   

   

   

   

   

   

   

   

   

  Correlation between the Market Bunker Price Index (MBP) vs MABUX Digital Bunker Price Index (DBP) in four major hubs on February 15 showed undercharging of 380 HSFO bunker grades in all ports ranging from minus 12USD (Fujairah) to minus 21USD (Rotterdam). VLSFO is overcharged in all 4 hubs in a range of 6USD (Houston) - 13USD (Singapore). MGO LS is undervalued in all four major hubs ranging from minus 3USD (Houston) to minus 22USD (Singapore).
  
  
  
  
  
  

   

   

   

   

   

  Meantime, world oil indexes continued upward changes on February 15.
  
  Brent for April settlement increased by $0.87 to $63.30 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for March rose by $0.67 to $60.14 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $3.16 to WTI. Gasoil for March delivery added $15.50.
  
  Today oil indexes continue to rise as a cold front shut wells and refineries in Texas - the biggest crude producing state in the biggest oil producer globally.
  
  The cold weather in the U.S. halted Texas oil wells and refineries on February 15 and forced restrictions on natural gas and crude pipeline operators. The rare deep freeze prompted the state's electric power suppliers to impose rotating blackouts, leaving nearly 3 million homes and businesses without power. Texas produces about 4.6 million barrels of oil per day and has 31 refineries, the most of any U.S. state.
  
  Prices also gained support as Yemen's Iran-aligned Houthi group said it struck airports in Saudi Arabia with drones, raising supply concerns in the world's biggest oil exporter. At the same time, The World Health Organization (WHO) on Monday listed AstraZeneca and Oxford University's COVID-19 vaccine for emergency use, widening access to the relatively inexpensive shot in the developing world.
  
  We expect bunker prices may continue upward changes today: 3-5 USD up for 380 HSFO, 12-15 USD for MGO.

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