Prices in East of Suez ports have been broadly rangebound, and prompt availability of all grades is tight in Fujairah.

Changes on the day to 17.00 SGT (09.00 GMT) today:

• VLSFO prices down in Zhoushan ($6/mt), Fujairah ($2/mt) and Singapore ($1/mt)
• LSMGO prices unchanged in Singapore, and down in Fujairah ($7/mt) and Zhoushan ($2/mt)
• HSFO prices up in Zhoushan ($5/mt), unchanged in Fujairah, and down in Singapore ($2/mt)
• B24-VLSFO at a $189/mt premium over VLSFO in Singapore
• B24-VLSFO at a $206/mt premium over VLSFO in Fujairah

VLSFO benchmarks at the three major Asian bunker ports—Singapore, Zhoushan, and Fujairah—have held broadly steady for the second consecutive day, with no significant changes. Fujairah’s VLSFO stands at a $16/mt discount to Zhoushan and a $12/mt discount to Singapore.

For LSMGO, Fujairah’s price has fallen by $7/mt over the past day, while prices in Singapore and Zhoushan have remained relatively stable. Despite the drop, Fujairah’s LSMGO continues to carry strong premiums—$91/mt over Singapore and $60/mt over Zhoushan.

Prompt bunker availability in Fujairah remains tight, with lead times for all fuel grades unchanged at 5–7 days. Similar lead times are seen in Khor Fakkan.

In Oman, ports such as Sohar, Salalah, Muscat, and Duqm continue to report steady LSMGO availability.

In Zhoushan, VLSFO supply remains stable, with most suppliers recommending lead times of 4–7 days. HSFO lead times have slightly increased to 4–7 days, up from 3–5 days last week. Meanwhile, LSMGO lead times have improved to 2–3 days, compared to 4–7 days previously.

Brent

The front-month ICE Brent contract has fallen by $0.40/bbl on the day, to trade at $66.83/bbl at 17.00 SGT (09.00 GMT).

Upward pressure:

Brent crude’s price has found some support as market participants await the final outcome of US-China trade talks.

Representatives from the two countries, who met in London this week, have agreed on a framework to ease trade tensions. However, the deal is yet to be reviewed and approved by US President Donald Trump and his Chinese counterpart Xi Jinping.

“From a market sentiment perspective, it’s a light nod toward de-escalation, but let’s not kid ourselves —this wasn’t a breakthrough,” SPI Asset Management managing partner Stephen Innes remarked.

Downward pressure:

Brent’s price has moved lower, shedding yesterday’s gains, after the US Energy Information Administration trimmed its projection for 2025 global oil demand to 103.5 million b/d, noting an annual growth of about 800,000 b/d, down from the 1 million b/d projected last month.

Lower oil consumption is expected to raise inventories by more than 800,000 b/d this year, Hynes said.

A slowdown in global oil demand growth will automatically push oil prices lower, according to market analysts.

By Tuhin Roy and Aparupa Mazumder

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