Global VLSFO prices have risen sharply over the summer. Image Credit: Ship & Bunker
Bunker fuel prices declined at most ports on Monday, with global average VLSFO prices slipping for the first in six consecutive sessions..
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports lost $2/mt to $685/mt on Monday, having reached the highest level since February 2 on Friday. The G20-HSFO Index fell by $2.50/mt to $601/mt, while the G20-MGO Index dropped by $2.50/mt to $1,021.50/mt.
ICE Brent crude futures gained $0.50/bl to $94.43/bl on Monday.
VLSFO prices at the top ports were mixed in direction. At Singapore prices gained $2/mt to $678/mt, at Rotterdam they dropped by $3/mt to $640/mt, at Fujairah they declined by $2.50/mt to $666.50/mt, and at Houston they rose by $2/mt to $672.50/mt.
On Tuesday morning Brent crude futures were trading up by $0.73/bl at $95.16/bl as of 9:31 AM in London. In metric tonne terms that would be equivalent to a $5.50/mt rise in bunker prices.