East of Suez Market Update 10 Oct 2025
Prices in East of Suez ports have moved down, and bunker demand is low in Singapore.
IMAGE: Cargo ships with a crane in Singapore. Getty Images
Changes on the day to 17.00 SGT (09.00 GMT) today:
- VLSFO prices down in Fujairah ($14/mt), Singapore ($13/mt) and Zhoushan ($11/mt)
- LSMGO prices down in Singapore ($20/mt), Fujairah ($17/mt) and Zhoushan ($13/mt)
- HSFO prices down in Zhoushan ($13/mt), Singapore ($11/mt) and Fujairah ($8/mt)
- B24-VLSFO at a $238/mt premium over VLSFO in Singapore
- B24-VLSFO at a $267/mt premium over VLSFO in Fujairah
VLSFO prices across the three major Asian bunker ports have declined within a narrow range of $11–14/mt over the past day. Singapore's VLSFO price is at a $26/mt discount to Zhoushan and near parity with Fujairah.
Singapore’s LSMGO price has also dropped by $20/mt, marking the steepest decline among the three ports. The port’s LSMGO discounts to Fujairah and Zhoushan stand at $57/mt and $11/mt, respectively.
Despite “slow” bunker demand in Singapore, VLSFO availability has tightened, with lead times extending from 7–10 days last week to 8–14 days currently. HSFO and LSMGO require lead times of around 6–10 days, compared with last week’s 8–10 days for HSFO and 4–8 days for LSMGO.
At Malaysia’s Port Klang, both VLSFO and LSMGO remain readily available, with prompt delivery possible for smaller parcels, while HSFO supply continues to be tight.
Brent
The front-month ICE Brent contract has dropped by $1.60/bbl on the day, to trade at $64.82/bbl at 17.00 SGT (09.00 GMT).
Upward pressure:
Washington has announced a fresh sanctions package against Iran, putting some upward pressure on Brent crude.
The US Treasury Department has sanctioned more than 50 individuals, entities and vessels for facilitating Iranian oil and liquified petroleum gas (LPG) sales and shipments.
“[Oil’s] losses were limited after the US announced further sanctions on Iran,” remarked ANZ Bank’s senior commodity strategist Daniel Hynes.
Downward pressure:
Brent crude’s price has plunged following US President Donald Trump’s latest announcement that Israel and Hamas have reached a ceasefire deal and have agreed to the release of the remaining Israeli hostages, according to media reports.
“This means that all of the hostages will be released very soon, and Israel will withdraw their troops to an agreed upon line as the first steps toward a strong, durable, and everlasting peace,” Trump wrote on social media platform Truth Social.
The long-anticipated deal comes as part of a broader plan to end the conflict in Gaza, now in its second year.
“This presents a major step toward ending the two-year war that raised the risk of supply disruptions in the oil market,” Hynes added.
By Tuhin Roy and Aparupa Mazumder
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