Singapore HSFO jumps over the weekend as G7 readies emergency stock release

Singapore bunker prices moved in different directions over the weekend, based on ENGINE data comparing Monday morning with Friday. HSFO posted the sharpest gain and VLSFO also rose. LSMGO edged lower, and the B30-VLSFO biofuel blend dipped.

Because HSFO climbed more than VLSFO, the gap between the two grades narrowed slightly. That trims the saving for scrubber-fitted ships a little, although HSFO is still the cheaper fuel. Gasoil buyers in the port saw no new upward pressure.

On the wider supply picture, the G7 countries and their partners plan to draw down as much as 100 million barrels of government-held crude and diesel within four months, with the IEA coordinating, ENGINE reported. The step comes after disruption to Saudi oil deliveries. ENGINE noted it may calm some worries, but it will not reopen Saudi pipeline flows or the Strait of Hormuz.

For buyers, the release covers crude and diesel, so gasoil is the grade most directly tied to it. With Middle East flows still disrupted, it makes sense to check Singapore prices close to the stem date rather than relying on last week's levels.