Record VLSFO bunker price rise sparks credit concerns
- Date: 02-Mar-2022
- Source: Argus Media
- Sector:Financial Markets
- Country:Gulf
Record VLSFO bunker price rise sparks credit concerns
Singapore, 2 March (Argus) — The outright price of delivered very-low sulphur fuel oil (VLSFO) bunkers in Singapore rose by $63.90/t to $858.50/t today, a record surge since Argus started assessing the grade on 1 October 2018.
Bunker prices rose firmly in line with crude prices, which reacted to an escalation of the ongoing military conflict between Ukraine and Russia.
Ice Brent futures at 16:30 Singapore time reached $111.14/bl, a daily increase of $10.66/bl.
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