Manila MGO reaches $2410 while Shanghai HSFO drops sharply

Manila MGO is trading at $2410, showing a move of $1015. This contrasts sharply with Shanghai HSFO at $881.5, which is down $5500.5. Brent crude is currently at $115.67 per barrel, while EU carbon stands at €86.26 per tonne.

In Salvador, the MGO price of $1686.5 shows a spread of $341.75 over the VLSFO price of $1344.75. On a 1,000-tonne stem, this difference represents $341,750 in headline value. Other regional spreads are notable, such as Paradip MGO at $2145, up $247.

The market is watching Far East to Europe spot rate movements and the status of Russian diesel tanker shipments heading to New York.