Global VLSFO prices are sinking sharply this week. Image Credit: Ship & Bunker
Bunker fuel prices fell at most ports on Tuesday, with global average VLSFO prices declining to the lowest level in almost two weeks as crude futures sank.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports lost $14/mt to $608.50/mt on Tuesday, reaching the lowest level since October 3.
The G20-HSFO Index slipped by $16/mt to $501.50/mt, while the G20-MGO Index fell by $13/mt to $752.50/mt.
ICE Brent crude futures sank by $3.21/bl to $74.25/bl on Tuesday.
VLSFO prices at the top four ports followed a negative trend. At Singapore prices lost $20/mt to $594.50/mt, at Rotterdam they declined by $12.50/mt to $550/mt, at Fujairah they dropped by $16.50/mt to $586.50/mt, and at Houston they slipped by $21.50/mt to $542.50/mt.
On Wednesday morning Brent futures were trading up by $0.27/bl from the previous session's close at $74.52/bl as of 5:49 AM in London. In metric tonne terms that would be equivalent to a $2.03/mt rise in bunker prices.
