LSMGO prices have risen across East of Suez ports, and all bunker operations in Zhoushan have been suspended because of Typhoon Champi.

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

• VLSFO prices up in Singapore ($10/mt), unchanged in Zhoushan, and down in Fujairah ($3/mt)
• LSMGO prices up in Singapore ($24/mt), Fujairah ($18/mt) and Zhoushan ($10/mt)
• HSFO prices down in Singapore ($8/mt), Zhoushan ($4/mt) and Fujairah ($1/mt)
• B30-VLSFO price up in Singapore ($2/mt)

Zhoushan’s VLSFO price has remained unchanged, standing at a $26/mt premium over Singapore and a $13/mt discount to Fujairah. Its LSMGO price has risen by $10/mt, the smallest increase among the three major Asian bunker ports.

Zhoushan’s average HSFO price for October so far stands at $877/mt, the highest monthly figure since November 2021. It tops March 2026’s $790/mt and the 2022 peak of $785/mt. The port's VLSFO benchmark has followed a similar path. Its October average of $933/mt is up from $897/mt in September and $483/mt a year earlier, although still below the June 2022 average of $1,100/mt.

Zhoushan’s bunker market remains tight despite subdued demand, with several suppliers reporting low inventories, a source said. Recommended lead times for all three grades are around 12 days, compared with around 11 days last week.

Bunker operations across Zhoushan have been completely suspended this week because of rough weather caused by Typhoon Champi, according to a source. The source did not confirm when operations would resume.

In Taiwan, VLSFO and LSMGO deliveries are available within two days at Keelung and Hualien. Taichung and Kaohsiung require slightly longer lead times of three days. Lead times are largely unchanged from last week.

Brent

The front-month ICE Brent contract has risen by $1.36/bbl on the day, to trade at $113.73/bbl at 17.00 SGT (09.00 GMT) today.

Upward pressure:

Brent futures have extended their gains from Thursday as concerns over supply disruptions in the Middle East continue to mount.

Saudi Arabia’s state-owned oil company Aramco has told its staff to evacuate the company’s headquarters in Dhahran, as fighting between Saudi forces and Yemen-based Houthis has intensified, Reuters reported.

“Reports suggest President Trump is considering fresh strikes on Iran, while the US is reinforcing its military presence in the region with the deployment of a second aircraft carrier,” analysts from ING Bank said.

Meanwhile, Iran has threatened to strike oil and AI facilities across seven Gulf countries if the US and Israel launch fresh attacks on Iran, The Guardian reported, citing Iran’s National Security Council secretary Mohsen Rezaei.

Downward pressure:

Brent’s price has come under some downward pressure following reports that Russia agreed on Wednesday to participate in US-mediated peace talks with Ukraine, starting next month.

Additionally, an oil tanker carrying 40,000 mt of Russian diesel is heading towards New York, Reuters reported. The move follows US President Donald Trump's announcement of the diesel purchase deal with Russian President Vladimir Putin on 9 October.

By Tuhin Roy and Shilpa Sharma

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