Conventional fuel prices in East of Suez ports have moved in mixed directions, and VLSFO and LSMGO availability is good in Malaysia’s Port Klang.

IMAGE: An old wooden cargo ship setting out from Port Klang. Getty Images

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

• VLSFO prices up in Fujairah ($2/mt) and Singapore ($1/mt), and unchanged in Zhoushan
• LSMGO prices up in Zhoushan ($12/mt) and Fujairah ($1/mt), and down Singapore ($1/mt)
• HSFO prices up in Zhoushan ($3/mt), unchanged in Fujairah, and down in Singapore ($1/mt)

Zhoushan's LSMGO price has recorded the steepest gains across the three main Asian bunker hubs in the past session. A higher-priced 50-150 mt stem, fixed at $723/mt, may have supported the price.

At the Chinese port, LSMGO lead times have slightly increased to 3–6 days from 2–4 days last week, according to a trader.

Over at Singapore, LSMGO deliveries are now inconsistent, as several suppliers face tight loading schedules and limited stocks. Lead times now range between 5–17 days, up from last week’s shorter span of 4–9 days.

On the other hand, VLSFO supply has improved, with lead times averaging 5–10 days — a clear improvement from last week’s uneven range of four days to nearly two weeks. HSFO availability has also strengthened, with lead times reduced to 5–10 days from the previous 6–11 days.

At Malaysia’s Port Klang, VLSFO and LSMGO remain readily available, and prompt deliveries are possible for smaller volumes, though HSFO supply remains limited.

Brent

The front-month ICE Brent contract has lost by $0.16/bbl on the day, to trade at $64.07/bbl at 17.00 SGT (09.00 GMT) today.

Upward pressure:

Brent crude has held some ground this week amid concerns of potential supply disruptions, as Western nations continue to tighten sanctions on Russia.

In October, the US Treasury Department’s Office of Foreign Assets Control (OFAC) sanctioned Rosneft and Lukoil, along with 34 of their subsidiaries.

Rosneft and Lukoil are Russia’s two largest oil producers, producing around 50% of the country’s total oil production, according to ING Bank’s head of commodities strategy, Warren Patterson.

“Successfully restricting these flows could dramatically change the outlook for the oil market,” Patterson said.

Downward pressure:

Eight members of the OPEC+ coalition have collectively decided to increase supply again by 137,000 b/d in December, marking the eighth consecutive month that the Saudi Arabia-led group has planned to hike production.

Saudi Arabia will produce around 10.1 million b/d in December – largely matching November’s figures. Russia will produce 9.6 million b/d, while Iraq and the UAE will produce 4.3 million b/d and 3.4 million b/d respectively, the OPEC secretariat said.

The decision has put downward pressure on Brent’s price, as signals of further supply additions typically pressure the market in an already oversupplied environment.

“For now, our balance sheet continues to show a significant surplus in 2026, which should keep downward pressure on prices,” Patterson added.

By Tuhin Roy, Samantha Shaji and Aparupa Mazumder

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