Durban bunker fuel prices rise during refinery maintenance despite weak crude

TIN news:  Bunker fuel prices at Durban, South Africa, have been rising through the week amid maintenance at the country’s largest refinery, and despite falling feedstock markets.

The assessment Thursday for 180 CST fuel oil was $339/mt delivered, and indications Friday were stable day on day.

That would represent a $13/mt increase from $325/mt at the start of the week.

By contrast, the high sulfur FOB Singapore cargoes benchmark was assessed at $290.92/mt delivered Thursday, down $13.31/mt from the start of the week.

Prices at Durban have remained stable against the backdrop of maintenance starting at Shell SA Refining and BP Southern Africa’s 175,000 b/d Sapref refinery.

The maintenance formally started May 1 and will last until the end of June, the company said.

Fuel oil production went offline earlier, market sources said.

This has not resulted in shortages yet but availability could see noticeable reductions in coming weeks, sources said.