Global VLSFO prices rose on Wednesday. Image Credit: Ship & Bunker
Bunker fuel prices advanced at ports around the world on Tuesday, with global average VLSFO prices rising for the first in nine consecutive sessions.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports rose by $1.50/mt to $552/mt on Wednesday, having reached its lowest level since September 2021 the previous day.
The G20-HSFO Index advanced by $0.50/mt to $493.50/mt, while the G20-MGO Index sank by $8/mt to $737.50/mt.
ICE Brent crude futures advanced by $1.39/bl to $70.95/bl on Wednesday.
VLSFO prices at the top four ports mostly followed a positive trend. At Singapore prices climbed by $3.50/mt to $511.50/mt, at Rotterdam they gained $6/mt to $500/mt, at Fujairah they declined by $3/mt to $507/mt, and at Houston they rose by $2.50/mt to $522/mt.
On Thursday morning Brent futures were trading down by $0.40/bl from the previous session's close at $70.55/bl as of 10:16 AM in London. In metric tonne terms that would be equivalent to a $3.01/mt fall on the day in bunker prices.
