Global VLSFO prices remain lower than where they started the year. Image Credit: Ship & Bunker
Bunker fuel prices resumed their decline at most ports on Monday, with average global VLSFO prices dropping to the lowest level in almost six weeks.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports fell by $6.50/mt to $593.50/mt on Monday, reaching the lowest level since March 21. The G20-HSFO Index gained $2/mt to $496.50/mt, while the G20-MGO Index was little changed at $803.50/mt.
ICE Brent crude futures lost $1.02/bl to $79.31/bl on Monday.
VLSFO prices at the top ports mostly had a negative trend. At Singapore prices declined by $4.50/mt to $578.50/mt, at Rotterdam they slipped by $3.50/mt to $540.50/mt, at Fujairah they were little changed at $574.50/mt and at Houston they sank by $8/mt to $550.50/mt.
On Tuesday morning Brent crude futures were trading down by $0.16/bl at $79.15/bl as of 9:42 AM in London. In metric tonne terms that would be equivalent to a $1.20/mt fall in bunker prices.
