BUNKER PRICES: G20-VLSFO Index Drops to Ten-Month Low

by Ship & Bunker News Team
Wednesday June 5, 2024

Bunker fuel prices sank at most ports on Tuesday, with global average VLSFO prices dropping to the lowest level in more than 10 months as crude futures slumped.

Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports fell by $9/mt to $606.50/mt on Tuesday, reaching the lowest level since July 24. The G20-HSFO Index dropped by $7/mt to $528/mt, while the G20-MGO Index slipped by $6.50/mt to $788.50/mt.

ICE Brent crude futures fell by $0.84/bl to $77.52/bl on Tuesday.

VLSFO prices at the top ports followed a negative trend. At Singapore prices fell by $11.50/mt to $587.50/mt, at Rotterdam they dropped by $14.50/mt to $534/mt, at Fujairah they declined by $10/mt to $586/mt, and at Houston they sank by $11/mt to $568.50/mt.

On Wednesday morning Brent futures were trading down by $0.02/bl from the previous session's close at $77.52/bl as of 6:13 AM in London. In metric tonne terms that would be equivalent to a $0.15/mt fall in bunker prices.