World News
BUNKER PRICES: Israel/Iran Conflict Brings $18/MT Jump in VLSFO
Bunker prices surged on Friday, with global average VLSFO prices rising to the highest level in more than two months, as attacks in both directions between Israel and Iran triggered a sharp increase in oil markets.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports rose by $18/mt to $559.50/mt on Friday, reaching its highest level since April 3.
The G20-HSFO Index jumped by $19.50/mt to $491/mt, while the G20-MGO Index climbed by $21/mt to $744/mt.
ICE Brent crude futures surged by $4.87/bl to $74.23/bl on Friday.
VLSFO prices at the top four ports followed a positive trend. At Singapore prices rose by $29.50/mt to $553/mt, at Rotterdam they advanced by $18/mt to $505.50/mt, at Fujairah they climbed by $27.50/mt to $539.50/mt, and at Houston they jumped by $27/mt to $521.50/mt.
On Monday morning Brent crude futures were trading up by $1.19/bl from the previous session's close at $75.42/bl as of 1:09 AM in London. In metric tonne terms that would be equivalent to an $8.96/mt rise in bunker prices.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 553.00 | 29.50 | 659.50 | 31.00 |
| Rotterdam | 505.50 | 18.00 | 667.00 | 34.00 |
| Houston | 521.50 | 27.00 | 675.50 | 32.00 |
| Fujairah | 539.50 | 27.50 | 728.00 | 14.50 |
| Global 20 Ports Average | 559.50 | 18.00 | 744.00 | 21.00 |
| Global 4 Ports Average | 530.00 | 25.50 | 682.50 | 28.00 |
| Global Average Bunker Price | 592.00 | 13.50 | 782.50 | 14.50 |
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