East of Suez Market Update 20 Oct 2025

Prices in East of Suez ports have moved higher across all grades, and availability of all grades is tight in Singapore.

IMAGE: Aerial view of Singapore container terminal. Getty Images

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

• VLSFO prices up in Singapore ($3/mt), Fujairah ($1/mt) and Zhoushan ($1/mt)
• LSMGO prices up in Fujairah ($16/mt), Singapore ($14/mt) and Zhoushan ($5/mt)
• HSFO prices up in Singapore ($11/mt) and Zhoushan ($5/mt), and unchanged in Fujairah
• B30-VLSFO at a $240/mt premium over VLSFO in Singapore
• B30-VLSFO at a $244/mt premium over VLSFO in Fujairah

LSMGO prices across the three major Asian bunker ports have gained by $5–16/mt over the weekend, following Friday’s declines. Fujairah’s LSMGO has recorded the highest gain among the three ports and remains at premiums of $65/mt over Zhoushan and $70/mt over Singapore.

Prompt availability of LSMGO and VLSFO is currently tight in Fujairah, according to a trader. The market is expected to remain the same through 22 October.

Singapore’s HSFO price has also risen by $11/mt over the weekend. It holds a small premium of $6/mt over Fujairah, while trading at a discount of $41/mt to Zhoushan.

Fuel availability in Singapore is tight across all bunker grades, with lead times for VLSFO expected between six days and two weeks.

HSFO supply has tightened slightly, with lead times extending from 6-10 days last week, to 7-12 days now. In contrast, LSMGO availability has improved, with shorter lead times of 3-8 days, down from 6-10 days previously.

Brent

The front-month ICE Brent contract has gained by $0.73/bbl on the day from Friday, to trade at $61.10/bbl at 17.00 SGT (09.00 GMT) today.

Upward pressure:

London has intensified pressure on Russian crude oil exports with its latest bout of sanctions. This news has supported Brent crude’s price over the weekend.

The UK has sanctioned Rosneft and Lukoil – two of Russia's largest oil producers.

The companies are “Russia’s biggest oil producers,” remarked Daniel Hynes, ANZ Bank’s senior commodity strategist, adding that the UK has also targeted “two Chinese energy firms and Indian refiner Nayara Energy.”

Downward pressure:

Brent crude has felt some downward pressure today amid growing fears of a potential supply glut, as OPEC+ continues to boost output while unwinding its production cuts.

The International Energy Agency (IEA) has projected that next year’s surplus “could be as high as 4mb/d [4 million b/d],” Hyne said. “That is up roughly 18% from last month’s [September] estimate,” he added.

Meanwhile, escalating US-China trade tensions have further stoked concerns about weaker energy demand.

“The outlook for demand is complicated by the on-again off-again trade tensions between the US and China,” Hynes further added.

By Aparupa Mazumder

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