Global VLSFO prices have declined in February. Image Credit: Ship & Bunker
Bunker fuel prices declined at most ports on Monday, with global VLSFO prices dropping for a fifth consecutive session.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports lost $6/mt to $654/mt on Monday, reaching the lowest point since January 12. The G20-HSFO Index slipped by $1.50/mt to $456.50/mt, while the G20-MGO Index declined by $3.50/mt to $931/mt.
ICE Brent crude futures gained $1.07bl to $84.07/bl on Monday.
VLSFO prices at the top ports had a mixed trend. At Singapore prices fell by $8.50/mt to $622/mt, at Rotterdam they rallied by $8/mt to $578/mt, at Fujairah they advanced by $1/mt to $626.50/mt and at Houston they slipped by $8/mt to $613/mt.
On Tuesday morning Brent futures were trading down by $0.78/bl at $83.29/bl as of 9:53 AM in London. In metric tonner terms that would amount to a $5.87/mt fall in bunker prices.