Global VLSFO prices advanced at the start of the week. Image Credit: Ship & Bunker
Bunker fuel prices advanced at most ports on Monday, with global average VLSFO prices rising for the first in five consecutive trading sessions.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports gained $1.50/mt to $573.50/mt on Monday, having reached its lowest level since December 11 the previous session.
The G20-HSFO Index jumped by $1/mt to $508.50/mt, while the G20-MGO Index fell by $2/mt to $756/mt.
ICE Brent crude futures declined by $0.31/bl to $72.63/bl on Monday.
VLSFO prices at the top four ports mostly followed a positive trend. At Singapore prices gained $3/mt to $551/mt, at Rotterdam they advanced by $2.50/mt to $515.50/mt, at Fujairah they rose by $1/mt to $542.50/mt, and at Houston they slipped by $4/mt to $540.50/mt.
On Tuesday morning Brent futures were trading down by $0.62/bl from the previous session's close at $73.01/bl as of 7:38 AM in London. In metric tonne terms that would be equivalent to a $4.67/mt fall in bunker prices.
