East of Suez Market Update 14 Nov 2025

Prices in East of Suez ports have moved up, and availability across all grades is good in Hong Kong.

IMAGE: Container ship and working crane bridge with Hong Kong skyline in the background. Getty Images

Changes on the day to 17.00 SGT (09.00 GMT) today:

• VLSFO prices up in Zhoushan ($17/mt), Singapore ($8/mt) and Fujairah ($3/mt)
• LSMGO prices up in Singapore ($18/mt), Zhoushan ($17/mt) and Fujairah ($3/mt)
• HSFO prices up in Singapore, Fujairah ($7/mt) and Zhoushan ($6/mt)
• B30-VLSFO at a $256/mt premium over VLSFO in Singapore
• B30-VLSFO at a $261/mt premium over VLSFO in Fujairah

VLSFO benchmarks across the three major Asian bunker hubs have risen over the past day, with Zhoushan showing the strongest gains. Zhoushan’s VLSFO premiums now stand at $27/mt over Fujairah and $22/mt over Singapore.

Demand in Zhoushan remains subdued, but suppliers are now offering shorter lead times of 4–6 days for VLSFO, compared with last week’s 5–8 days. HSFO lead times have also shortened to 4–6 days, while LSMGO delivery windows remain stable.

Bunker deliveries at Zhoushan’s Xiushandong anchorage have been suspended since Monday because of bad weather conditions, a source said. Operations at the outer Tiaozhoumen and Xiazhimen anchorages have been halted since the weekend, while bunkering continues normally at the inner Mazhi anchorage. Most suppliers expect full operations across Zhoushan to resume by Sunday.

In Hong Kong, lead times for all grades remain around seven days, consistent with last week.

Brent

The front-month ICE Brent contract has gained by $1.19/bbl on the day, to trade at $63.71/bbl at 17.00 SGT (09.00 GMT) today.

Upward pressure:

Brent crude has edged higher following renewed Ukrainian drone strikes on key Russian energy infrastructure.

Supply fears have resurfaced after a Ukrainian drone attack hit an oil depot in the major Russian export hub of Novorossiysk, Reuters reported.

The strike has damaged a ship, apartment buildings, an oil depot in Novorossiysk and injured three crew members of the vessel, the report added.

“Crude futures leapt up… on the back of reports of Ukrainian drone strikes causing fire and damage at Russia’s major Black Sea port of Novorossiysk overnight,” remarked VANDA Insights’ founder Vandana Hari.

Downward pressure:

Brent crude’s price has felt some downward pressure after the US Energy Information Administration (EIA) reported another surge in US crude stocks.

Commercial US crude oil inventories increased by 6.4 million bbls to 428 million bbls for the week ending 7 November, according to data from the EIA.

A build in US crude stocks typically indicates lower demand for oil and can put some downward pressure on Brent's price.

Two analysts from ING Bank said that the EIA report was “bearish” and the inventory build was “larger than expected”.

By Tuhin Roy and Aparupa Mazumder

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