Global VLSFO prices remain below their position at the start of 2023. Image Credit: Ship & Bunker
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.