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Singapore Bunker Prices Hit Multi-Month Highs: Argus

OIL PRODUCTS
SingaporeEnergy BulletsAPACStoryCommodities

Bunker fuel prices in Singapore have hit multi-month highs, driven by a rally in underlying crude futures, Argus said.

  • Shipowners and bunker buyers were cautious, delaying purchases to monitor market developments.
  • VLSFO prices rose by $16.7/t to $590.72/t Jan. 13, the highest since October 2024. Prices could exceed $600/t soon, Argus said as limited VLSFO supply may further support prices.
  • HSFO prices jumped by $34.67/t to $507.67/t, the highest since July 2024.
  • MGO prices reached a six-month high of $731/t, up by $30/t.
  • Marine biodiesel prices, including B24, also increased, reflecting the crude futures trend.
  • Traders expect B24 prices to follow VLSFO cargo prices, but spot liquidity may remain thin.
  • Argus sources said that uncertainty remains in the market, with traders not ruling out further price rises.
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Bunker fuel prices in Singapore have hit multi-month highs, driven by a rally in underlying crude futures, Argus said.

  • Shipowners and bunker buyers were cautious, delaying purchases to monitor market developments.
  • VLSFO prices rose by $16.7/t to $590.72/t Jan. 13, the highest since October 2024. Prices could exceed $600/t soon, Argus said as limited VLSFO supply may further support prices.
  • HSFO prices jumped by $34.67/t to $507.67/t, the highest since July 2024.
  • MGO prices reached a six-month high of $731/t, up by $30/t.
  • Marine biodiesel prices, including B24, also increased, reflecting the crude futures trend.
  • Traders expect B24 prices to follow VLSFO cargo prices, but spot liquidity may remain thin.
  • Argus sources said that uncertainty remains in the market, with traders not ruling out further price rises.