World News
BUNKER PRICES: G20-VLSFO Index Drops to One-Week Low Amid Crude Slump
Bunker fuel prices sank at most ports on Tuesday, with global average VLSFO prices slipping to the lowest level in more than a week amid a slump in crude futures.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports lost $4.50/mt to $673/mt on Tuesday, reaching the lowest level since October 30. The G20-HSFO Index declined by $9.50/mt to $527.50/mt, while the G20-MGO Index sank by $12/mt to $921.50/mt.
ICE Brent crude futures sank by $3.57/bl to $81.61/bl on Tuesday.
VLSFO prices at the top ports followed a negative trend. At Singapore prices fell by $8/mt to $682.50/mt, at Rotterdam they lost $7/mt to $588/mt, at Fujairah they declined by $4/mt to $679.50/mt, and at Houston they slipped by $15.50/mt to $585.50/mt.
On Wednesday morning Brent crude futures were trading down by $0.03/bl at $81.58/bl as of 4:21 AM in London. In metric tonne terms that would be equivalent to a $0.23/mt fall 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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