Global VLSFO prices are on the rise again. Image Credit: Ship & Bunker
Bunker fuel prices advanced at most ports on Wednesday, with global average VLSFO prices rising for the first in nine consecutive sessions as crude futures surged.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports jumped by $10/mt to $682.50/mt on Wednesday, reaching the highest level since September 18. The G20-HSFO Index rose by $9.50/mt to $595/mt, while the G20-MGO Index gained $5.50/mt to $1,002.50/mt.
ICE Brent crude futures rose by $2.58/bl to $96.55/bl on Wednesday.
VLSFO prices at the top ports followed a positive trend. At Singapore prices rose by $14/mt to $680/mt, at Rotterdam they advanced by $11/mt to $628/mt, at Fujairah they jumped by $14/mt to $664/mt, and at Houston they climbed by $5.50/mt to $661/mt.
On Thursday morning Brent crude futures were trading up by $0.78/bl at $97.33/bl as of 6:31 AM in London. In metric tonne terms that would be equivalent to a $5.87/mt rise in bunker prices.
