East of Suez Market Update 20 Nov 2025

Most prices in East of Suez have moved down, and availability is tight across all grades in Port Suez and Djibouti.

IMAGE: Container ships and gantry cranes in Port Khorfakkan, UAE. Sharjah Ports

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

• VLSFO prices down in Singapore ($5/mt), Zhoushan ($3/mt) and Fujairah ($2/mt)
• LSMGO prices up in Zhoushan ($5/mt) and Singapore ($3/mt), and down in Fujairah ($3/mt)
• HSFO prices down in Singapore ($4/mt), Zhoushan ($3/mt), and Fujairah ($2/mt)
• B30-VLSFO at a $264/mt premium over VLSFO in Singapore
• B30-VLSFO at a $286/mt premium over VLSFO in Fujairah

VLSFO prices across East of Suez ports have held largely steady over the past day, despite recording small losses. In Fujairah, VLSFO is priced at a discount of $19/mt to Zhoushan and $4/mt to Singapore.

Prompt supply remains tight across all grades in Fujairah, as suppliers continue to struggle with low stocks and loading delays, even with subdued demand. Recommended lead times stand at 5–7 days, similar to Khor Fakkan.

In Egypt’s Port Suez, VLSFO, LSMGO, and HSFO are nearly exhausted. Qatar’s Ras Laffan is also facing tight availability of VLSFO and LSMGO, while Djibouti is under severe strain, with VLSFO and HSFO almost depleted and LSMGO availability is tight.

Brent

The front-month ICE Brent contract has declined by $0.44/bbl on the day, to trade at $63.93/bbl at 17.00 SGT (09.00 GMT) today.

Upward pressure:

The US Energy Information Administration’s (EIA) latest inventory report has added some upward pressure on Brent’s price today.

Commercial US crude oil inventories have declined by 3.4 million bbls to 424 million bbls for the week ending 14 November, according to data from the EIA.

A drop in US crude stocks typically indicates higher demand and can lend some support to Brent's price.

“The decline was driven by stronger crude exports, which grew 1.34m b/d [1.34 million b/d] week on week,” remarked two analysts from ING Bank.

Downward pressure:

Reports that the US and Russia are working on a ceasefire deal for Ukraine has dragged Brent’s price lower today.

The US and Russian administrations have been “secretly working” on a new plan to end the conflict in Ukraine, Axios reported, citing officials from both countries.

These developments have helped soften the blow of US sanctions targeting two of Russia’s biggest oil companies – Rosneft and Lukoil.

“Signs that the US is still trying to work on a deal eases some concerns over further sanctions against Russia and also how strongly current curbs [on Lukoil and Rosneft] will be enforced,” ING Bank’s analysts added.

By Tuhin Roy and Aparupa Mazumder

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