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 | 602.50 | 13.50 | 676.00 | 10.00 |
| Rotterdam | 540.50 | 6.50 | 665.50 | 18.00 |
| Houston | 552.50 | 21.50 | 685.50 | 25.00 |
| Fujairah | 592.50 | 17.50 | 783.00 | 10.00 |
| Global 20 Ports Average | 615.00 | 12.00 | 757.00 | 15.00 |
| Global 4 Ports Average | 572.00 | 14.50 | 702.50 | 16.00 |
| Global Average Bunker Price | 653.00 | 9.50 | 824.50 | 9.50 |
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