Risavika LNG front month has further increased by 4 % week on week to 23.39 EUR/MWh for November index, following the seasonal change and anticipated higher demand for gas from local distribution zones in Europe.
Fuel oil 3.5 has decreased by 9.2 % to 212.74 USD/t, while low sulfur oil (MFO 0.5) has dropped by 6.9 % and traded at 279.89 USD/t and MGO 0.1 has lost 3.4 % week on week and reached 311.13 USD/t. This drop is mainly influenced by fall of oil prices last week amid concerns over the demand recovery and return of Libyan oil production, despite the recent data on draw from the inventories both in Amsterdam-Rotterdam-Antwerp (ARA) region and the US.
European refineries reduced runs during the third quarter due to poor margins, which resulted in a lack of fuel oil availability across all grades in Europe during September. The MFO 0.5 market was previously awash with supply after COVID-19 hit global oil demand. While the supply glut appears to have eased somewhat, demand has yet to completely recover. Combined fuel oil stocks in the ARA hub in the week to Sept. 23 sat at 1.390 million mt, according to data from Insights Global, down from 1.533 million mt July 1.
LNG Risavika - LNG FOB Risavika
LBG Risavika 10 % - 10 % blend of Liquified Biogas
FO 3.5 FOB Rdam – European 3.5% Fuel Oil Barges FOB Rdam (Platts) Futures Quotes
MFO 0.5 FOB Rdam - European FOB Rdam Marine Fuel 0.5% Barges (Platts) Futures Quotes
MGO 0.1 FOB ARA - Gasoil 0.1% Barges FOB ARA (Platts) Futures Quotes
ULSD FOB ARA - European Diesel 10 ppm Barges FOB ARA (Platts) Futures Quotes
|Front Month Price index|
|LNG Risavika*||LBG blendRisavika**||FO 3.5 FOB Rdam||MFO 0.5 FOB Rdam||MGO 0.1 FOB ARA||ULSD FOB ARA||Unit|
Source: CME Group, Gasum, HellenicShippingNews
*An estimate for LNG FOB Risavika
** An estimate for 10 % LBG blend FOB Risavika