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The Bunker Index Med (BIX MED) - Bunker Index's average bunker price for ports in the Mediterranean - jumped $18.86 per tonne, or 3.45 percent, to $565.23 per tonne today as bunker prices surged in the region as a consequence of yesterday's $2.55 gain in the price of WTI crude.

Marine gas oil (MGO) prices recorded the most significant price increases with distillate levels surging on average by $21.77 per tonne, or 3.4 percent, as the Bunker Index MGO (BIX MED MGO) - the average price for marine gasoil (high and low sulphur) in the region - rose to $668.62 per tonne.

Meanwhile, IFO 380 and IFO 180 prices also rose in Mediterranean ports today with the Bunker Index Med 380 CST (BIX Med 380 CST) surging by $17.34 to $514.00 per tonne and the BIX MED 180 CST increasing by $16.22 per tonne.

IFO 380 and IFO 180 prices jumped $15 per tonne or above in Algeciras, Fos, Gibraltar, Istanbul, Limassol, Off Malta and Piraeus.

Today's BIX MED rise means losses of $4.29 and $14.28 recorded over the previous two days have now been recovered. The price is also only $4.34 below the $569.57 price level reached on November 5 - the highet BIX MED price recorded since the index was launched in April.