World News
BUNKER PRICES: G20-VLSFO Index Sinks to One-Month Low
Bunker fuel prices continued to drop at most ports on Wednesday, with global average VLSFO prices slipping to the lowest level in almost a month amid a slump in crude futures.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports lost $8.50/mt to $664.50/mt on Wednesday, reaching the lowest level since October 11. The G20-HSFO Index declined by $10.50/mt to $517/mt, while the G20-MGO Index sank by $15/mt to $906.50/mt.
ICE Brent crude futures sank by $2.07/bl to $79.54/bl on Wednesday.
VLSFO prices at the top ports followed a negative trend. At Singapore prices fell by $5/mt to $677.50/mt, at Rotterdam they lost $13.50/mt to $574.50/mt, at Fujairah they declined by $6.50/mt to $673/mt, and at Houston they slipped by $6.50/mt to $579/mt.
On Thursday morning Brent crude futures were trading up by $0.04/bl at $79.58/bl as of 5:46 AM in London. In metric tonne terms that would be equivalent to a $0.30/mt rise in bunker prices.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 611.00 | 1.50 | 730.00 | 7.00 |
| Rotterdam | 557.50 | 1.00 | 718.50 | 2.00 |
| Houston | 576.00 | 1.00 | 750.50 | 2.50 |
| Fujairah | 608.50 | 2.50 | 829.00 | 2.00 |
| Global 20 Ports Average | 624.50 | 2.50 | 817.50 | 3.00 |
| Global 4 Ports Average | 588.50 | 0.50 | 757.00 | 2.50 |
| Global Average Bunker Price | 678.50 | 3.50 | 883.50 | 2.00 |
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