Bunker fuel prices rose at most ports on Tuesday, with global VLSFO prices reaching the highest level in more than two weeks.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports gained $4.50/mt to $654/mt on Tuesday, reaching the highest level since February 20. The G20-HSFO Index rose by $7/mt to $482/mt, while the G20-MGO Index declined by $7.50/mt to $934/mt.
ICE Brent crude futures lost $2.89/bl to $83.29/bl on Tuesday.
VLSFO prices at the top ports mostly followed a positive trend. At Singapore prices rose by $10/mt to $622/mt, at Rotterdam they advanced by $7/mt to $597.50/mt, at Fujairah they climbed by $9.50/mt to $619/mt and at Houston they were unchanged at $637/mt.
On Wednesday morning Brent futures were trading up by $0.05/bl at $83.34/bl as of 9:53 AM in London. In metric tonner terms that would amount to a $0.38/mt rally in bunker prices.