EMEA News
Fujairah VLSFO Price Breaches $1,000/MT Level
VLSFO delivered at Fujairah has breached the $1,000/mt level for the first time.
The VLSFO price at the Middle Eastern hub surged by $76.50/mt to $1,0001/mt on Monday, according to Ship & Bunker pricing. The level is almost double the $532.50/mt price seen at Fujairah this time last year.
HSFO at Fujairah gained $34.50/mt to $692/mt, leaving the VLSFO-HSFO spread at $308/mt.
Bunker prices worldwide surged with crude on Monday as a renewed push by the US to sanction Russia's energy exports triggered concerns over global shortages. The global average VLSFO price gained $74/mt to $962.50/mt, according to Ship & Bunker's G20 Index of prices at 20 leading bunkering ports.
Bunker prices have been reaching new record highs almost every day since the Russian invasion of Ukraine launched two weeks ago.
