Global bunker prices have dropped sharply this week. Image Credit: Ship & Bunker
Bunker prices declined at ports around the world on Thursday, with global average VLSFO prices dropping to the lowest level in almost three weeks.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports lost $5/mt to $516/mt on Thursday, reaching its lowest level since April 10.
The G20-HSFO Index sank by $4.50/mt to $449.50/mt, while the G20-MGO Index dropped by $5.50/mt to $700/mt.
ICE Brent crude futures jumped by $1.07/bl to $62.13/bl on Thursday.
VLSFO prices at the top four ports mostly followed a negative trend. At Singapore prices were little changed at $493.50/mt, at Rotterdam they declined by $18/mt to $432/mt, at Fujairah they sank by $6.50/mt to $476.50/mt, and at Houston they fell by $8/mt to $450/mt.
On Friday morning Brent crude futures were trading up by $0.39/bl from the previous session's close at $62.52/bl as of 6:09 AM in London. In metric tonne terms that would be equivalent to a $2.94/mt rise in bunker prices.
