11JUN2019 - NEWS - New marine fuel rules to boost diesel prices for at least a year

Global prices for diesel and marine fuels should rise by October ahead of a January switchover to new, very low-sulfur marine fuels, and remain higher for at least a year as refiners shift production to make more of the new fuels. Some analysts expect a sizeable price jump as ocean shippers and fuel sellers begin stocking up, but warn existing refining capacity could fall short. Demand for bunker fuel was 3.5 million barrels per day (bpd) in 2018. The U.S. Energy Information Administration (EIA) said in report in March that shift in petroleum product pricing may begin as early as mid-to-late 2019, with the effects on prices to be most acute in 2020, and then to moderate after that.

Published by Editor - www.Livebunkers.com at 11-Jun-2019 03:59:46 [UTC] , contact editor at editor@livebunkers.com