World News
BUNKER PRICES: G20-VLSFO Index Sinks to 15-Month Low
Bunker fuel prices dropped at most ports on Wednesday, with global average VLSFO prices falling to the lowest level in 15 months.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports lost $8.50/mt to $587.50/mt on Wednesday, reaching the lowest level since June 2023.
The G20-HSFO Index rose by $13/mt to $487.50/mt, while the G20-MGO Index sank by $5.50/mt to $729/mt.
ICE Brent crude futures jumped by $1.42/bl to $70.61/bl on Wednesday.
VLSFO prices at the top four ports followed a negative trend. At Singapore prices lost $10/mt to $582.50/mt, at Rotterdam they fell by $4/mt to $503/mt, at Fujairah they slipped by $10/mt to $579/mt, and at Houston they dropped by $8.50/mt to $498/mt.
On Thursday morning Brent futures were trading up by $0.75/bl from the previous session's close at $71.36/bl as of 6:46 AM in London. In metric tonne terms that would be equivalent to a $5.65/mt rise in bunker prices.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 569.50 | 0.00 | 680.00 | 0.00 |
| Rotterdam | 515.00 | 1.00 | 674.00 | 2.00 |
| Houston | 550.00 | 2.50 | 678.00 | 6.50 |
| Fujairah | 560.50 | 0.50 | 753.50 | 2.50 |
| Global 20 Ports Average | 586.00 | 0.00 | 761.00 | 2.00 |
| Global 4 Ports Average | 549.00 | 1.00 | 696.50 | 2.00 |
| Global Average Bunker Price | 634.50 | 1.00 | 800.50 | 2.00 |
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