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Thu 24 Feb 2011, 14:56 GMT

NWE average jumps $30.54 per tonne


380-cst and 180-cst prices climb 5.7 percent in North West Europe.

The Bunker Index NWE (BIX NWE) - Bunker Index's average bunker price for ports in North West Europe - increased by $30.54, or 4.4 percent, to $722.12 today as bunker prices surged in the region following a surge in the price of crude oil, which saw Brent almost reach $120.00 per barrel, driven by reports that Libya’s ruler Muammar Gaddafi ordered his security services to sabotage oil facilities and fears that the revolt will spread into other oil producing countries.

The Bunker Index NWE 380 CST (BIX NWE 380 CST) - the average price for 380-centistoke in North West Europe - jumped by $33.27, or 5.7 percent, to $615.60 per tonne and the BIX NWE 180 CST - the average 180-cst price in the region - rose by $34.38, or 5.7 percent, to $637.80 per tonne.

IFO 380 and IFO 180 prices in North West Europe were $28-$56 per tonne higher in Bremerhaven, Copenhagen, Falmouth, Gdansk, Gothenburg, Great Belt, Kaliningrad and Rotterdam.

The Bunker Index NWE MDO (BIX NWE MDO) rose by $18.77, or 2.2 percent, to $867.20 per tonne and the Bunker Index NWE MGO (BIX NWE MGO) increased by $33.89, or 3.7 percent, to $943.75 per tonne.

Marine gas oil (MGO) prices were $40-70 per tonne higher in Antwerp, Bremerhaven, Copenhagen, Falmouth, Gdansk, Gothenburg, Great Belt, Hamburg, Kaliningrad, Kiel, Rostock and Rotterdam.

For further information regarding regional and global indices published by Bunker Index, please click on the following link below.

http://www.bunkerindex.com/prices/indices.php

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