World News
BUNKER PRICES: G20-VLSFO Index Drops to Five-Month Low
Bunker fuel prices continued to fall at most ports on Wednesday, with global average VLSFO prices dropping for a ninth consecutive session to the lowest level in almost five months.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports lost $8/mt to $609/mt on Wednesday, reaching the lowest level since July 24. The G20-HSFO Index fell by $5.50/mt to $495.50/mt, while the G20-MGO Index dropped by $1.50/mt to $833/mt.
ICE Brent crude futures rallied by $1.02/bl to $74.26/bl on Wednesday.
VLSFO prices at the top ports followed a negative trend. At Singapore prices fell by $17.50/mt to $582.50/mt, at Rotterdam they lost $13.50/mt to $518/mt, at Fujairah they sank by $12.50/mt to $587/mt, and at Houston they slipped by $1.50/mt to $535/mt.
On Thursday morning Brent crude futures were trading up by $0.39/bl at $74.65/bl as of 6:37 AM in London. In metric tonne terms that would be equivalent to a $2.94/mt rise in bunker prices.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.00 | 1.50 | 685.50 | 5.50 |
| Rotterdam | 516.50 | 1.50 | 677.50 | 3.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 565.00 | 4.50 | 755.00 | 1.50 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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