BUNKER PRICES: G20-VLSFO Index Drops to Three-Week Low

by Ship & Bunker News Team
Wednesday August 23, 2023

Bunker fuel prices sank at most ports on Tuesday, with global average VLSFO prices dropping to the lowest level in almost three weeks.

Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports fell by $8.50/mt to $649/mt on Tuesday, reaching the lowest level since August 3. The G20-HSFO Index slipped by $3.50/mt to $585/mt, while the G20-MGO Index declined by $8.50/mt to $950/mt.

ICE Brent crude futures lost $0.43/bl to $84.03/bl on Tuesday.

VLSFO prices at the top ports followed a negative trend. At Singapore prices fell by $11.50/mt to $635.50/mt, at Rotterdam they lost $6.50/mt to $602/mt, at Fujairah they declined by $9.50/mt to $630.50/mt, and at Houston they dropped by $5/mt to $629/mt.

On Wednesday morning Brent crude futures were trading down by $0.50/bl at $83.53/bl as of 9:32 AM in London. In metric tonne terms that would be equivalent to a $3.77/mt fall in bunker prices.