East of Suez Market Update 16 Oct 2025

Prices in East of Suez ports have moved within a narrow range, and LSMGO availability is good in several Omani ports.

IMAGE: Asyad Terminal in Duqm. Asyad Terminal

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

• VLSFO prices up in Singapore and Fujairah ($2/mt), and down in Zhoushan ($1/mt)
• LSMGO prices up in Singapore ($3/mt) and Zhoushan ($1/mt), and down in Fujairah ($3/mt)
• HSFO prices up in Zhoushan ($5/mt) and Singapore ($1/mt), and down in Fujairah ($4/mt)
• B30-VLSFO at a $248/mt premium over VLSFO in Singapore
• B30-VLSFO at a $254/mt premium over VLSFO in Fujairah

VLSFO benchmarks across the three major Asian bunker ports have stayed largely steady for the second straight day. Fujairah’s VLSFO price stands at a notable discount of $23/mt to Zhoushan and remains near parity with Singapore.

LSMGO prices in all three ports have also remained broadly stable over the past day. Fujairah’s LSMGO is at premiums of $66/mt and $56/mt over Singapore and Zhoushan, respectively.

In Fujairah, prompt bunker supply remains tight across all grades despite subdued demand, as several suppliers continue to face low stock levels and loading delays. Lead times of 5–7 days are recommended for deliveries in Fujairah as well as in the nearby Khor Fakkan port. Some suppliers can handle urgent requests, though typically at a premium, a source said.

In contrast, Oman’s ports—including Sohar, Salalah, Muscat and Duqm—continue to report stable LSMGO availability.

Brent

The front-month ICE Brent contract has inched $0.01/bbl lower on the day, to trade at $62.30/bbl at 17.00 SGT (09.00 GMT).

Upward pressure:

Brent crude’s price has held steady, following US President Donald Trump's claims that India will soon stop purchasing Russian oil.

US negotiators will now try to get China to stop its Russian crude purchases, as both nations have emerged as leading purchasers of Russian crude oil amid US sanctions of Russian commodities, Reuters reported.

Oil gained “as President Trump said India vowed to halt purchases of Russian barrels soon,” two analysts from ING Bank said.

The latest round of sanctions by the UK, targeting Russia’s major oil companies Lukoil and Rosneft, as well as 44 shadow fleet vessels has also supported Brent’s price today.

Downward pressure:

Brent crude has felt some downward pressure after the American Petroleum Institute (API) reported a huge gain in US crude stocks, Reuters reported.

US crude inventories rose by 7.36 million bbls in the week ending October 10, according to data from the API.

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

“A bearish report from the American Petroleum Institute (API) restricted any major upside for oil prices,” ING Banks analysts added.

By Tuhin Roy and Aparupa Mazumder

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