MGO surges in Durban; San Francisco VLSFO sees largest move of the day

Brent crude is trading at 110.07 USD/Bbl, while WTI stands at 98.17 USD/Bbl. MGO prices saw significant increases in certain regions, with Durban recording a rise of 178.5 USD/MT. Meanwhile, HSFO prices in Asia declined, including Shanghai at -86 USD/MT and Fujairah at -85.76 USD/MT.

In San Francisco, VLSFO rose by 333.75 USD/MT. For a vessel consuming 1,000 MT of VLSFO, this single-day deviation represents an increase of 333,750 USD. In Europe, the MGO/VLSFO spread in Rotterdam is 671.5 USD/MT (1436.5 USD/MT minus 765 USD/MT).

Market attention remains focused on Middle East oil flows near prewar levels and the impact of recent maritime incidents near the Strait of Hormuz. The Panama Canal is also being watched regarding traffic and tonnage trends.