BUNKER PRICES: G20-VLSFO Index Advances to One-Week High

by Ship & Bunker News Team
Tuesday August 29, 2023

Bunker fuel prices climbed at most ports on Monday, with global average VLSFO prices advancing to the highest level in a week.

Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports gained $3.50/mt to $654.50/mt on Monday, reaching the highest level since August 21. The G20-HSFO Index advanced by $3/mt to $574/mt, while the G20-MGO Index climbed by $10/mt to $974/mt.

ICE Brent crude futures lost $0.06/bl to $84.42/bl on Monday.

VLSFO prices at the top ports mostly followed a positive trend. At Singapore prices rose by $6.50/mt to $643/mt, at Rotterdam they lost $3.50/mt to $597.50/mt, at Fujairah they advanced by $3/mt to $636/mt, and at Houston they climbed by $9.50/mt to $629/mt.

On Tuesday morning Brent crude futures were trading up by $0.29/bl at $84.71/bl as of 9:25 AM in London. In metric tonne terms that would be equivalent to a $2.18/mt rise in bunker prices.