Global VLSFO prices rallied on Tuesday. Image Credit: Ship & Bunker
Bunker prices advanced at ports around the world on Tuesday, with global average VLSFO prices following crude futures higher and paring the previous day's losses.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports gained $0.50/mt to $526.50/mt on Tuesday, having declined by $3.50/mt the previous day.
The G20-HSFO Index fell by $2/mt to $461/mt, while the G20-MGO Index advanced by $2.50/mt to $722.50/mt.
ICE Brent crude gained $1.18/bl to $67.44/bl on Tuesday.
VLSFO prices at the top four ports followed a positive trend. At Singapore prices gained $5/mt to $500/mt, at Rotterdam they rose by $2/mt to $458.50/mt, at Fujairah they advanced by $5.50/mt to $495/mt, and at Houston they jumped by $1.50/mt to $472/mt.
On Wednesday morning Brent futures were trading up by $0.60/bl from the previous session's close at $68.04/bl as of 6:11 AM in London. In metric tonne terms that would be equivalent to a $4.52/mt rise on the day in bunker prices.
