Global bunker prices are mostly up across ports today, as Brent values inched up from Friday’s levels.
Changes in the day to 08.00 GMT today:
- VLSFO prices up in Singapore ($38/mt), Fujairah ($22/mt), Houston ($2/mt), and steady in Rotterdam and Gibraltar
- LSMGO prices up in Fujairah ($34/mt), Singapore and Gibraltar ($7/mt), Rotterdam ($3/mt), and down in Houston ($7/mt)
- HSFO380 prices up in Houston ($20/mt), Fujairah ($16/mt), Singapore ($8/mt), Gibraltar ($2/mt), and down in Rotterdam ($4/mt)
Bunker supply operations have been suspended in Zhoushan and Ningbo as typhoon Lionrock has brought strong winds in the region. Bunkering is expected to resume in the two ports on Tuesday evening, sources say.
However, bunkering continues as normal in the nearby port of Shanghai where fuel availability remains good for all three fuel grades.
VLSFO prices in Zhoushan and Houston have been mostly steady from Friday’s levels, compared to Singapore, Fujairah, Gibraltar and Rotterdam where prices have seen larger gains.
Independent fuel oil stocks were drawn by a further 10% on the week to 8 October in the Amsterdam-Rotterdam-Antwerp (ARA) hub, according to data released by Insights Global last week.
Fuel oil stocks fell to their lowest levels since late July, while gasoil inventories inched up to a three-week high. Suppliers in the ARA region can however deliver prompt stems of VLSFO, LSMGO and HSFO, as there haven’t been any reports of significant supply shortages.
Brent
Front-month ICE Brent has gained $0.60/bbl to 08.00 GMT on the day, to stand at $83.67/bbl.
The futures contract has surpassed the $84/bbl mark during trading on Monday, drawing support from the ongoing energy crisis. Brent was last above $84/bbl back in October 2018.
Crude prices have extended their gains as they have been slowly rising since last Wednesday, when they stood around $81/bbl.