World News
BUNKER PRICES: G20-VLSFO Index Drops to Two-Week Low as Oil Slumps
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.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 594.50 | 20.00 | 663.50 | 25.50 |
| Rotterdam | 550.00 | 12.50 | 659.00 | 24.50 |
| Houston | 542.50 | 21.50 | 676.00 | 25.50 |
| Fujairah | 586.50 | 16.50 | 762.50 | 6.50 |
| Global 20 Ports Average | 608.50 | 14.00 | 752.50 | 13.00 |
| Global 4 Ports Average | 568.50 | 17.50 | 690.00 | 20.50 |
| Global Average Bunker Price | 655.00 | 5.00 | 822.00 | 14.00 |
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