Bunker Spreads Hold Weight Amid Crude and EU Carbon Levels

Fujairah MGO is trading at 1793.5 USD/MT, showing a change of 155.5. This contrasts with Fujairah HSFO at 756.5 USD/MT, which moved 75.45. The resulting MGO/HSFO spread in Fujairah is 1037 USD/MT. On a 1,000 tonne stem, this spread represents a headline difference of 1,037,000 USD.

Globally, the MGO/VLSFO spread in Rotterdam is 671.5 USD/MT (1436.5 minus 765). Meanwhile, the Brent crude price stands at 110.45 USD/Bbl, and EU carbon is noted at 85.65 EUR/Tonne. Significant moves include Port Louis MGO falling 110, and Durban MGO rising 178.5.

Market attention remains on the Iraqi Line returning to Gulf container trade after 50 years, the impact of EU ETS revenues on sustainable fuels, and the outlook provided by ENGINE regarding East of Suez Bunker Fuel Availability.