World News
BUNKER PRICES: G20-VLSFO Index Little Changed Despite Dramatic Slump in Crude
Bunker fuel prices were mixed in direction at ports around the world on Tuesday, with global average VLSFO prices little changed overall despite a sharp drop in crude futures.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports was little changed at $624/mt on Tuesday, having reached the lowest level since August 26 the previous day.
The G20-HSFO Index rose by $5.50/mt to $497/mt, while the G20-MGO Index slipped by $0.50/mt to $768/mt.
ICE Brent crude futures sank by $3.77/bl to $73.75/bl on Tuesday.
VLSFO prices at the top four ports followed a positive trend. At Singapore prices gained $5.50/mt to $621.50/mt, at Rotterdam they rose by $0.50/mt to $548/mt, at Fujairah they rallied by $6.50/mt to $617.50/mt, and at Houston they advanced by $1.50/mt to $550/mt.
On Wednesday morning Brent futures were trading down by $0.58/bl from the previous session's close at $73.17/bl as of 8:11 AM in London. In metric tonne terms that would be equivalent to a $4.37/mt fall in bunker prices.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.00 | 1.50 | 685.50 | 5.50 |
| Rotterdam | 516.50 | 1.50 | 677.50 | 3.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 565.00 | 4.50 | 755.00 | 1.50 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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