BUNKER PRICES: G20-VLSFO Index Holds Steady as Oil Recovers

by Ship & Bunker News Team
Wednesday March 22, 2023

Bunker fuel prices were mixed in direction at ports around the world on Tuesday, with global average VLSFO prices holding steady overall despite a rise in crude.

Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports was little changed at $593/mt on Tuesday, remaining at the lowest level since December 6, 2021. The G20-HSFO Index rose by $4.50/mt to $460.50/mt, while the G20-MGO Index declined by $5.50/mt to $869.50/mt.

ICE Brent crude futures gained $1.53/bl to $75.32/bl on Tuesday.

VLSFO prices at the top ports mostly followed a positive trend. At Singapore prices rose by $1.50/mt to $545/mt, at Rotterdam they advanced by $7/mt to $531/mt, at Fujairah they climbed by $8.50/mt to $557.50/mt and at Houston they dropped by $9.50/mt to $556.50/mt.

On Wednesday morning Brent futures were trading down by $0.23/bl at $75.09/bl as of 9:39 AM in London. In metric tonne terms that would amount to a $1.73/mt fall in bunker prices.