Bunker fuel prices rallied at most ports on Wednesday, with global average VLSFO prices advancing for the first in six consecutive sessions.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports gained $0.50/mt to $654/mt on Wednesday, in its first daily rise since November 21. The G20-HSFO Index rose by $2.50/mt to $523.50/mt, while the G20-MGO Index climbed by $3.50/mt to $885/mt.
ICE Brent crude futures jumped by $1.42/bl to $83.10/bl on Wednesday.
VLSFO prices at the top ports followed a positive trend. At Singapore prices rose by $6.50/mt to $658/mt, at Rotterdam they gained $2.50/mt to $576.50/mt, at Fujairah they climbed by $1.50/mt to $638/mt, and at Houston they advanced by $10/mt to $581/mt.
On Thursday morning Brent crude futures were trading up by $0.30/bl at $83.40/bl as of 7:02 AM in London. In metric tonne terms that would be equivalent to a $2.26/mt rise in bunker prices.