# ENGINE: East of Suez Bunker Fuel Market Update 15/7/21 - FIS CDN

> East of Suez bunker fuel prices fell sharply, with VLSFO down $14-19/mt and HSFO380 down up to $23/mt across Singapore, Zhoushan and Fujairah. Front-month ICE Brent dropped $2.62 to $73.67/bbl on reports that Saudi Arabia and the UAE were nearing an OPEC+ deal to raise output.

- Date: 2021-07-15 · published 2021-07-15T12:00:00.000Z
- Category: policy · region Asia · magnitude medium
- Page: https://feedsoft.ai/events/6951-engine-east-of-suez-bunker-fuel-market-update-15-7-21-fis-cdn
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Expectations of higher OPEC+ supply push crude and bunker fuel prices lower, and a deal would weigh on energy costs for shipping.

## Read by commodity

- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2022-04-01 | [Energy Market Summary: April 3, 2022 \| news.cqg.com](https://feedsoft.ai/events/9137-energy-market-summary-april-3-2022-news-cqg-com.md) | -6.9% | +1.2% |
| BRENT | 2018-05-30 | [Market Analysis & Forecast - Investing.com](https://feedsoft.ai/events/64942-market-analysis-and-amp-forecast-investing-com.md) | -1.1% | -0.0% |
| BRENT | 2020-08-03 | [Oil falls on supply glut fears as OPEC+ set to boost output - Markets - Business Recorder](https://feedsoft.ai/events/51785-oil-falls-on-supply-glut-fears-as-opec-set-to-boost-output-markets-business.md) | +2.4% | +4.4% |
| BRENT | 2024-03-25 | [Opec+ 8 speeds up output hike to 548,000 b/d for August \| Latest Market News](https://feedsoft.ai/events/31112-opec-8-speeds-up-output-hike-to-548-000-b-d-for-august-latest-market-news.md) | +1.9% | +2.3% |
| BRENT | 2025-06-02 | [Soybean oil prices fall amid uncertainty over US biofuel market and falling oil prices, but India's tariff cuts will boost demand](https://feedsoft.ai/events/10948-soybean-oil-prices-fall-amid-uncertainty-over-us-biofuel-market-and-falling-oil.md) | +4.9% | +7.0% |

## Sources

- fisapp.com: https://fisapp.com/products/fuel-oil/engine-east-of-suez-bunker-fuel-market-update-15-7-21/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.