Global VLSFO prices are heading upwards again. Image Credit: Ship & Bunker
Bunker fuel prices rallied at most ports on Thursday, with global average VLSFO prices rising for the first in 10 consecutive sessions.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports gained $2/mt to $611/mt on Thursday, in its first daily advance since November 30. The G20-HSFO Index rose by $3/mt to $498.50/mt, while the G20-MGO Index jumped by $3/mt to $836/mt.
ICE Brent crude futures surged by $2.35/bl to $76.61/bl on Thursday.
VLSFO prices at the top ports mostly followed a positive trend. At Singapore prices fell by $1/mt to $581.50/mt, at Rotterdam they gained $18.50/mt to $536.50/mt, at Fujairah they jumped by $3.50/mt to $590.50/mt, and at Houston they advanced by $7/mt to $542/mt.
On Friday morning Brent crude futures were trading up by $0.21/bl at $76.82/bl as of 6:39 AM in London. In metric tonne terms that would be equivalent to a $1.58/mt rise in bunker prices.
