World News
BUNKER PRICES: G20-VLSFO Index Drops to Two-Week Low
Bunker prices mostly declined at ports around the world on Tuesday, with global average VLSFO prices dropping to the lowest level in almost two weeks.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports lost $4.50/mt to $524.50/mt on Tuesday, reaching its lowest level since April 17.
The G20-HSFO Index sank by $5/mt to $456/mt, while the G20-MGO Index dropped by $4/mt to $710.50/mt.
ICE Brent crude futures dropped by $1.61/bl to $64.25/bl on Tuesday.
VLSFO prices at the top four ports followed a negative trend. At Singapore prices lost $7/mt to $502/mt, at Rotterdam they declined by $8/mt to $455/mt, at Fujairah they sank by $6/mt to $495/mt, and at Houston they fell by $4.50/mt to $467/mt.
On Wednesday morning Brent futures were trading down by $0.76/bl from the previous session's close at $63.49/bl as of 5:27 AM in London. In metric tonne terms that would be equivalent to a $5.72/mt fall on the day in bunker prices.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 502.00 | 7.00 | 617.00 | 6.00 |
| Rotterdam | 455.00 | 8.00 | 619.50 | 4.00 |
| Houston | 467.00 | 4.50 | 625.00 | 2.50 |
| Fujairah | 495.00 | 6.00 | 712.50 | 1.50 |
| Global 20 Ports Average | 524.50 | 4.50 | 710.50 | 4.00 |
| Global 4 Ports Average | 479.50 | 6.50 | 643.50 | 3.50 |
| Global Average Bunker Price | 570.50 | 2.00 | 747.50 | 5.50 |
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