BUNKER PRICES: Fujairah VLSFO Sees Biggest Daily Gain Since July

by Ship & Bunker News Team
Thursday February 2, 2023

Bunker fuel prices advanced for the first session in three at most ports on Wednesday, with VLSFO at Fujairah marking the sharpest daily gain since July.

Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports gained $13.50/mt to $703.50/mt on Wednesday, reaching the highest level since Friday. The G20-HSFO Index rose by $3.50/mt to $464.50/mt, while the G20-MGO Index declined by $7.50/mt to $1,026.50/mt.

ICE Brent crude futures lost $2.72bl to $82.84/bl on Wednesday.

VLSFO prices at the top ports followed a positive trend. At Singapore prices jumped by $19.50/mt to $700/mt, at Rotterdam they rose by $17/mt to $618.50/mt, at Fujairah they surged by $31.50/mt -- the biggest gaily gain since July 8 -- to $691/mt and at Houston they declined by $1/mt to $635/mt.

On Thursday morning Brent futures were trading down by $0.30/bl at $82.54/bl as of 9:58 AM in London. In metric tonne terms that would amount to a $2.26/mt fall in bunker prices.