Global VLSFO prices rallied on Tuesday. Image Credit: Ship & Bunker
Bunker fuel prices mostly advanced at ports around the world on Tuesday, with global average VLSFO prices climbing for the first in three consecutive trading sessions.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports gained $0.50/mt to $613/mt on Tuesday, having reached its lowest level since January 15 the previous day.
The G20-HSFO Index fell by $1/mt to $511.50/mt, while the G20-MGO Index declined by $10/mt to $787.50/mt.
ICE Brent crude futures rose by $0.41/bl to $77.49/bl on Tuesday.
VLSFO prices at the top four ports mostly followed a negative trend. At Singapore prices fell by $4.50/mt to $594/mt, at Rotterdam they advanced by $2.50/mt to $550/mt, at Fujairah they sank by $4/mt to $580/mt, and at Houston they dropped by $1.50/mt to $575/mt.
On Wednesday morning Brent futures were trading up by $0.07/bl from the previous session's close at $77.56/bl as of 7:46 AM in London. In metric tonne terms that would be equivalent to a $0.53/mt rise on the day in bunker prices.
