East of Suez Market Update 13 Nov 2025

Bunker prices in East of Suez ports have declined, and prompt availability is tight in Fujairah for all grades.

IMAGE: Aerial view of Sohar Port and Freezone. Sohar Port and Freezone

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

• VLSFO prices down in Zhoushan ($21/mt), Fujairah ($20/mt) and Singapore ($19/mt)
• LSMGO prices down in Fujairah ($30/mt), Singapore ($28/mt) and Zhoushan ($25/mt)
• HSFO prices down in Zhoushan ($16/mt), Singapore ($15/mt) and Fujairah ($14/mt)
• B30-VLSFO at a $241/mt premium over VLSFO in Singapore
• B30-VLSFO at a $251/mt premium over VLSFO in Fujairah

VLSFO benchmarks across the three major Asian bunker hubs have dropped sharply over the past day. Fujairah’s VLSFO price is now at a $13/mt discount to Zhoushan and is near parity with Singapore.

Fujairah's LSMGO price has also seen the steepest fall among the three ports. Even with this drop, the port's benchmark commands a $13/mt premium over Zhoushan and a $12/mt premium over Singapore.

Prompt bunker availability in Fujairah remains tight across all grades as suppliers continue to struggle with low inventory and loading delays, despite subdued demand. Recommended lead times remain at 5–7 days, similar to conditions in the nearby Khor Fakkan port.

In contrast, Oman’s ports — Sohar, Salalah, Muscat and Duqm — continue to offer stable LSMGO supply, with prompt dates open.

Brent

The front-month ICE Brent contract has plunged by $2.21/bbl on the day, to trade at $62.52/bbl at 17.00 SGT (09.00 GMT) today.

Upward pressure:

US President Donald Trump signed a legislation yesterday to officially end the longest federal government shutdown in the history of the country.

The legislation reinstates funding for essential federal operations that were affected by the 43-day government shutdown.

The bill got clearance from the US House of Representative and the US Senate earlier, bringing some relief, as the shutdown had dampened demand in the world’s largest oil-consuming nation by slowing federal operations, according to analysts.

With activities resuming, fuel consumption is expected to pick up.

Downward pressure:

Brent crude’s price has declined sharply as the Organisation of the Petroleum Exporting Countries (OPEC) estimated that global crude supplies will continue to exceed oil demand.

Total crude oil production by OPEC+ members averaged 43.02 million b/d last month, about 73,000 b/d lower than in September.

Oil production by OPEC+’s de-facto leader, Saudi Arabia, increased by 43,000 b/d in October to a little over 10 million b/d. Russia – the coalition’s second-largest producer – increased production by 47,000 b/d to 9.4 million b/d during the same time.

Meanwhile, the latest inventory report from the American Petroleum Institute (API) also weighed on Brent’s price. US crude oil inventories gained by 1.3 million bbls in the week ending 7 November, API reported.

“The decline was largely driven by OPEC’s revised surplus expectations for the global oil market, along with a bearish inventory report from the API,” two analysts from ING Bank noted.

By Tuhin Roy and Aparupa Mazumder

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