Asian bunker prices cool on Hormuz deal optimism, but Fujairah VLSFO hits new highs
- Bunker prices in Singapore and China have started sliding, with falling crude futures leading the correction
- In contrast, Fujairah VLSFO prices have edged to a new 10-year high as supplies remain tight, with demand expected to rise further once the strait reopens
- UAE ports Fujairah and Khor Fakkan continue to contend with limited stocks while the strait remains shut
Optimism that normalcy could soon be established is high among bunker traders, supported by declines in crude futures. But supplies from the MEG remain locked in as players await a full reopening
