BUNKER PRICES: G20-VLSFO Index Advances to Six-Week High

by Ship & Bunker News Team
Wednesday August 2, 2023

Bunker fuel prices continued to advance at most ports on Tuesday, with global average VLSFO prices climbing to the highest level in more than six weeks.

Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports rose by $7/mt to $640.50/mt on Tuesday, reaching the highest level since April 17. The G20-HSFO Index climbed by $0.50/mt to $562.50/mt, while the G20-MGO Index gained $14.50/mt to $910.50/mt.

ICE Brent crude futures lost $0.52/bl to $84.91/bl on Tuesday.

VLSFO prices at the top ports mostly had a positive trend. At Singapore prices advanced by $8.50/mt to $628/mt, at Rotterdam they gained $13.50/mt tot $604/mt, at Fujairah they climbed by $12.50/mt to $624.50/mt, and at Houston they fell by $0.50/mt to $597/mt.

On Wednesday morning Brent crude futures were trading up by $0.61/bl at $85.52/bl as of 8:30 AM in London. In metric tonne terms that would be equivalent to a $4.59/mt rise in bunker prices.