World News
BUNKER PRICES: G20-VLSFO Index Drops to Near Seven-Week Low
Bunker fuel prices continued to decline at most ports on Tuesday, with global average VLSFO prices dropping to the lowest level in almost seven weeks.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports dropped by $5.50/mt to $616/mt on Tuesday, reaching the lowest level since June 12.
The G20-HSFO Index advanced by $1/mt to $523/mt, while the G20-MGO Index sank by $13/mt to $798.50/mt.
ICE Brent crude futures dropped by $1.15/bl to $78.63/bl on Tuesday.
VLSFO prices at the top four ports followed a negative trend. At Singapore prices lost $6.50/mt to $613/mt, at Rotterdam they fell by $6.50/mt to $557/mt, at Fujairah they declined by $8/mt to $603/mt, and at Houston they slipped by $7.50/mt to $566.50/mt.
On Wednesday morning Brent futures were trading up by $1.16/bl from the previous session's close at $79.79/bl as of 6:17 AM in London. In metric tonne terms that would be equivalent to a $8.73/mt rise in bunker prices.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 569.50 | 0.00 | 680.00 | 0.00 |
| Rotterdam | 515.00 | 1.00 | 674.00 | 2.00 |
| Houston | 550.00 | 2.50 | 678.00 | 6.50 |
| Fujairah | 560.50 | 0.50 | 753.50 | 2.50 |
| Global 20 Ports Average | 586.00 | 0.00 | 761.00 | 2.00 |
| Global 4 Ports Average | 549.00 | 1.00 | 696.50 | 2.00 |
| Global Average Bunker Price | 634.50 | 1.00 | 800.50 | 2.00 |
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