BUNKER PRICES: G20-VLSFO Index Drops for Third Session as Crude Slumps

by Ship & Bunker News Team
Tuesday June 4, 2024

Bunker fuel prices sank at most ports on Monday, with global average VLSFO prices dropping for a third consecutive session as crude futures slumped.

Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports fell by $4/mt to $615.50/mt on Monday, reaching the lowest level since December 14. The G20-HSFO Index dropped by $2/mt to $535/mt, while the G20-MGO Index slipped by $7/mt to $795/mt.

ICE Brent crude futures fell by $2.75/bl to $78.36/bl on Monday.

VLSFO prices at the top ports followed a negative trend. At Singapore prices fell by $2/mt to $597/mt, at Rotterdam they dropped by $7.50/mt to $548.50/mt, at Fujairah they declined by $1.50/mt to $596/mt, and at Houston they sank by $6.50/mt to $579.50/mt.

On Tuesday morning Brent futures were trading down by $0.58/bl from the previous session's close at $77.78/bl as of 6:42 AM in London. In metric tonne terms that would be equivalent to a $4.37/mt fall in bunker prices.