VLSFO prices in Singapore have been trading above $1,000/mt since Wednesday, reaching $1,019.5/mt on Friday- the highest level since March 16.
Prices eased to $1,002.5/mt on Monday as crude prices dropped amid hopes of a deal between the US and Iran.
President Donald Trump said in a social media post late Monday that an agreement could “happen”, adding that “Iran wanted a settlement as soon as possible.”
Ship & Bunker's G20-VLSFO Index, which tracks prices across 20 leading bunkering ports, fell by $12.5/mt to $940.5/mt on Tuesday.
Despite the decline, it remained at its highest level since April 7.
The G20-HSFO Index dropped by $17/mt to $813.5/mt on Monday, while the G20-MGO Index dropped by $14.5mt to $1,514.5/mt.
VLSFO prices at some major bunkering ports fell more sharply over the past day. Rotterdam prices declined by $31/mt to $763.5/mt on Monday, while Houston prices slipped by $36.5/mt.
Fujairah VLSFO prices were largely unchanged, dropping by just $2/mt to $991.5/mt.
