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VSFLO price decline gathers pace

The decline in the cost of VSLFO has intensified with the approach of the Lunar New Year in China and pressure on the price of oil as a result of the novel coronavirus outbreak also mainly in China but expected to spread abroad by nervous markets.

On a global basis VLSFO fell by US$10/tonne and MGO by US$11.24/tonne, but regionally Northern Europe saw a decline in the blended low sulphur fuel of US$25.50 and US$33.50 for the distillate. North America also falls of US$10.50 and US$11.25 for VLSFO and MGO respectively. The Middle East and Africa was the only region to record a gain for MGO a comparatively modest US$1.50, while VLSFO fell US$13.50 in the region.

By Comparison the largest regional fall for 380 HFO was US$5.00/tonne for North America and the overall, globally, was decline US$2.12.

 





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