Bunker prices across East of Suez ports have largely moved lower, and bunker supply is very tight in Singapore.

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 down in Zhoushan ($3/mt), Singapore ($2/mt) and Fujairah ($1/mt)
• LSMGO prices down in Zhoushan ($8/mt), Singapore ($3/mt) and Fujairah ($1/mt)
• HSFO prices up in Singapore ($2/mt), and down in Fujairah ($3/mt) and Zhoushan ($1/mt)
• B30-VLSFO at a $264/mt premium over VLSFO in Singapore
• B30-VLSFO at a $283/mt premium over VLSFO in Fujairah

Most bunker fuel grades across the East of Suez market have tracked Brent’s downward movement, while Singapore’s HSFO price has bucked the trend.

Bunker fuel supply in Singapore has tightened sharply this week, a source said. All fuel grades require at least 10 days' advance notice. VLSFO availability is expected to improve from next week.

LSMGO and HSFO are also facing longer lead times, broadly in line with current VLSFO requirements. Only a limited number of suppliers are currently able to offer smaller HSFO parcels in Singapore, according to a market source.

Prompt supply of small volumes of VLSFO and LSMGO remains adequately available at Malaysia’s Port Klang, according to the source. In contrast, availability across all bunker grades is tight in Hong Kong.

Brent

The front-month ICE Brent contract has lost by $0.29/bbl on the day, to trade at $59.74/bbl at 17.00 SGT (09.00 GMT) today.

Upward pressure:

Brent crude’s price has found some support on the back of fresh economic data from the world’s largest crude oil consumers – the US.

The US Consumer Price Index (CPI), a key gauge of inflation, increased by 0.2% in both October and November, after rising by 0.3% in September.

The data supports the likelihood of further US interest rate cuts in 2026, according to market analysts.

Lower interest rates in the US can support demand growth and make dollar-denominated commodities like oil less expensive for holders of other currencies.

Downward pressure:

Growing optimism over a potential Russia-Ukraine peace agreement has offset supply disruption concerns stemming from the blockade of Venezuelan oil tankers.

US President Donald Trump said talks aimed at ending the conflict in Ukraine are “getting close to something,” Reuters reported.  

The remarks come ahead of a meeting between US and Russian officials over the weekend.

Market analysts believe that a deal could potentially ease energy-related sanctions on Kremlin, bringing Russian oil back to a global market already facing oversupply concerns.

“Current US sanctions on Russian oil companies are having an impact on oil exports, with volumes falling below 400kb/d [400,000 b/d] to India and 600kb/d [600,000 b/d] to China,” ANZ Bank’s senior commodity strategist Daniel Hynes said.

By Aparupa Mazumder

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