World News
BUNKER PRICES: G20-MGO Index Drops to 11-Month Low
Bunker fuel prices declined at most ports on Thursday, with global MGO prices dropping to the lowest level in almost a year.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports lost $3.50/mt to $672/mt on Thursday, reaching the lowest point since February 7. The G20-HSFO Index rallied by $2.50/mt to $458/mt, while the G20-MGO Index declined by $12/mt to $945/mt, the lowest level since March 2022.
ICE Brent crude futures lost $0.24bl to $85.14/bl on Thursday.
VLSFO prices at the top ports had a mixed trend. At Singapore prices fell by $1/mt to $653/mt, at Rotterdam they advanced by $2.50/mt to $594.50mt, at Fujairah they slipped by $1/mt to $644.50/mt and at Houston they rose by $1/mt to $628.50/mt.
On Friday morning Brent futures were trading down by $1.23/bl at $83.91/bl as of 9:38 AM in London. In metric tonner terms that would amount to a $9.26/mt drop 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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