World News
BUNKER PRICES: G20-VLSFO Index Drops to 18-Month Low
Bunker fuel prices slipped at most ports on Tuesday, with global average VLSFO prices dropping to the lowest level in 18 months.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports lost $1/mt to $577.50/mt on Tuesday, reaching the lowest level since June 2023.
The G20-HSFO Index gained $4.50/mt to $496.50/mt, while the G20-MGO Index advanced by $0.50/mt to $759/mt.
ICE Brent crude futures jumped by $1.79/bl to $73.62/bl on Tuesday.
VLSFO prices at the top four ports were mixed in direction. At Singapore prices gained $2/mt to $551/mt, at Rotterdam they declined by $4/mt to $499.50/mt, at Fujairah they rose by $1/mt to $545.50/mt, and at Houston they dropped by $0.50/mt to $549/mt.
On Wednesday morning Brent futures were trading up by $0.24/bl from the previous session's close at $73.86/bl as of 6:07 AM in London. In metric tonne terms that would be equivalent to a $1.81/mt rise in bunker prices.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 551.00 | 2.00 | 663.00 | 5.50 |
| Rotterdam | 499.50 | 4.00 | 650.00 | 3.00 |
| Houston | 549.00 | 0.50 | 677.00 | 0.50 |
| Fujairah | 545.50 | 1.00 | 747.00 | 1.00 |
| Global 20 Ports Average | 577.50 | 1.00 | 759.00 | 0.50 |
| Global 4 Ports Average | 536.00 | 0.50 | 684.50 | 2.00 |
| Global Average Bunker Price | 623.50 | 1.00 | 808.50 | 5.50 |
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