BUNKER PRICES: G20-VLSFO Sees Biggest Weekly Decline in Two Months

by Ship & Bunker News Team
Monday February 6, 2023

Bunker fuel prices dropped at most ports on Friday, taking global VLSFO prices to the biggest weekly drop in two months.

Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports lost $9.50/mt to $679/mt on Friday, reaching the lowest level since January 19. The index's weekly drop was $27/mt, the most since the week ending December 9.

The G20-HSFO Index fell by $14/mt to $448/mt, while the G20-MGO Index declined by $20/mt to $997/mt.

ICE Brent crude futures lost $2.23bl to $79.94/bl on Friday.

VLSFO prices at the top ports followed a negative trend. At Singapore prices sank by $26.50/mt to $664/mt, at Rotterdam they slipped by $6.50/mt to $582.50/mt, at Fujairah they fell by $7.50/mt to $651/mt and at Houston they declined by $8/mt to $626/mt.

On Monday morning Brent futures were trading up by $0.06/bl at $80.00/bl as of 9:55 AM in London. In metric tonne terms that would amount to a $0.45/mt rise in bunker prices.