Global VLSFO prices look set for sharp declines this week. Image Credit: Ship & Bunker
Bunker prices mostly declined at ports around the world on Monday, with global average VLSFO prices falling for the first day in more than two weeks.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports fell by $1/mt to $588/mt on Monday, in its first daily decline since June 6.
The G20-HSFO Index fell by $1/mt to $508/mt, while the G20-MGO Index sank by $13/mt to $805/mt.
ICE Brent crude futures dropped by $5.53/bl to $71.48/bl on Monday.
VLSFO prices at the top four ports were mixed in direction. At Singapore prices were little changed at $570.50/mt, at Rotterdam they advanced by $4.50/mt to $532/mt, at Fujairah they rose by $1/mt to $560/mt, and at Houston they sank by $8.50/mt to $546.50/mt.
On Tuesday morning Brent crude futures were trading down by $1.81/bl from the previous session's close at $69.67/bl as of 5:31 AM in London. In metric tonne terms that would be equivalent to a $13.63/mt rise in bunker prices.
