World News
BUNKER PRICES: G20-VLSFO Index Drops to Eight-Week Low
Bunker prices mostly declined at ports around the world on Tuesday, with global average VLSFO prices dropping to their lowest level in almost eight weeks.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports fell by $3/mt to $546/mt on Tuesday, reaching its lowest level since June 12.
The G20-HSFO Index declined by $1/mt to $464/mt, while the G20-MGO Index dropped by $9/mt to $751.50/mt.
ICE Brent crude futures fell by $1.12/bl to $67.64/bl on Tuesday.
VLSFO prices at the top four ports mostly followed a negative trend. At Singapore prices were little changed at $517.50/mt, at Rotterdam they sank by $7.50/mt to $492.50/mt, at Fujairah they slipped by $2/mt to $509/mt, and at Houston they dropped by $4.50/mt to $495/mt.
On Wednesday morning Brent crude futures were trading up by $0.62/bl from the previous session's close at $68.26/bl as of 8:20 AM in London. In metric tonne terms that would be equivalent to a $4.67/mt rise in bunker prices.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 506.00 | 7.00 | 661.00 | 2.00 |
| Rotterdam | 480.00 | 0.50 | 667.50 | 2.50 |
| Houston | 490.50 | 1.00 | 647.50 | 3.00 |
| Fujairah | 497.00 | 4.50 | 726.50 | 0.00 |
| Global 20 Ports Average | 537.00 | 4.00 | 756.50 | 10.00 |
| Global 4 Ports Average | 493.50 | 2.50 | 675.50 | 0.50 |
| Global Average Bunker Price | 577.00 | 3.00 | 797.50 | 0.50 |
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