Global VLSFO prices remain well below their position at the start of 2023. Image Credit: Ship & Bunker
Bunker fuel prices advanced at most ports on Tuesday, with average global VLSFO prices returning to the level seen at the end of last week.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports jumped by $7.50/mt to $580.50/mt on Tuesday, reaching the highest level since May 12. The G20-HSFO Index gained $3/mt to $482.50/mt, while the G20-MGO Index advanced by $1/mt to $778/mt.
ICE Brent crude futures lost $0.32/bl to $74.91/bl on Tuesday.
VLSFO prices at the top ports had a positive trend. At Singapore prices rose by $10/mt to $565/mt, at Rotterdam they advanced by $6/mt to $525/mt, at Fujairah they gained $10.50/mt to $558/mt, and at Houston they climbed by $0.50/mt to $528.50/mt.
On Wednesday morning Brent crude futures were trading down by $0.26/bl at $74.65/bl as of 9:34 AM in London. In metric tonne terms that would be equivalent to a $1.96/mt rise in bunker prices.