MABUX: Bunker market this morning, Jan 13 2021

MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO Gasoil) in the main world hubs) increased on January 12:
380 HSFO: USD/MT 362.23 (+2.57)
VLSFO: USD/MT 452.00 (+5.00)
MGO: USD/MT 505.44 (+2.44)
Correlation between the Market Bunker Price Index () vs MABUX Digital Bunker Price Index (DBP) in four major hubs on Jan.12 showed undercharging of 380 HSFO bunker grades in Singapore (-7 USD), Fujairah (-1 USD) and overcharging in Houston (+16 USD). In Rotterdam the MBP cost of 380 HSFO 100% correlates to DBP. At the same time, VLSFO is overcharged in all ports except of Singapore (-2 USD). MGO LS remained undervalued in all ports except of Houston (+ 9 USD).
Meantime, world oil indexes increased on Jan.12 as the U.S. dollar came under renewed pressure.
Brent for March settlement increased by $0.92 to $56.58 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for February rose by $0.96 to $53.21 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $3.37 to WTI. Gasoil for January delivery added $14.75.
Today oil indexes continue to rise after industry data showed a bigger than expected drop in inventories.
Dollar Index, a measure of the currency against a basket of six major rivals, fell 0.4% to trade near a more than 2,5 year low. A weaker dollar is seen as a boost for commodities, like oil, that are traded in the currency, as it makes them cheaper to overseas buyers. Oil stocks in the U.S. dropped by 5.8 million barrels last week to around 484.5 million barrels.
We expect bunker prices may continue to rise today: 5-8 USD up for IFO and 10-14 USD up for MGO.
Read also
Victoria Golubyatnikova, SGS – Speaker at BLACK SEA OIL TRADE-2025, Bucharest
Over 700 thsd tons of Ukrainian grain were exported
Moldovan government approves sale of Giurgiuleşti port to Romania
In Central Russia, oilseed crops overtook wheat in terms of sown area for the firs...
Sunflower seeds harvest forecasts: Drought hits Ukraine, while Russia and Kazakhst...
Write to us
Our manager will contact you soon