BUNKER PRICES: G20-VLSFO Index Drops to One-Week Low Amid Crude Slump

by Ship & Bunker News Team
Wednesday November 8, 2023

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.