21-07-2016

Bunker fuel prices soften at Russia’s Novorossiisk amid high levels of supply

bunker

Bunker fuel prices at the Russian Black Sea port of Novorossiisk have weakened this week, amid falling demand and increasing competition among suppliers, market sources said on Wednesday.

S&P Global Platts assessed the key 380 CST bunker fuel grade at $170.50/mt Tuesday. Since the end of May, 380 CST prices have been fairly stable in the port, staying within $2-3 of $174.50/mt on most days.

However, market sources said fuel prices have now dropped below the $170/mt level as players compete for the available demand.

“The competition is crazy right now,” said one bunker trader active in the port.

Source: Platts

Previous Next