Global VLSFO prices have dropped significantly over the past month. Image Credit: Ship & Bunker
Bunker fuel prices slipped at most ports on Tuesday, with global average VLSFO prices dropping to the lowest level in almost 15 weeks.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports fell by $2/mt to $644/mt on Tuesday, reaching the lowest level since January 24. The G20-HSFO Index rose by $3.50/mt to $537.50/mt, while the G20-MGO Index was little changed at $825.50/mt.
ICE Brent crude futures fell by $0.17/bl to $83.16/bl on Tuesday.
VLSFO prices at the top ports mostly followed a positive trend. At Singapore prices rose by $1/mt to $628/mt, at Rotterdam they dropped by $10/mt to $569/mt, at Fujairah they advanced by $4.50/mt to $626.50/mt, and at Houston they climbed by $3.50/mt to $591/mt.
On Wednesday morning Brent futures were trading down by $0.52/bl from the previous session's close at $82.64/bl as of 7:26 AM in London. In metric tonne terms that would be equivalent to a $3.92/mt fall in bunker prices.
