World News
BUNKER PRICES: G20-VLSFO Index Drops to One-Week Low
Bunker fuel prices declined at most ports on Tuesday, with global average VLSFO prices dropping to the lowest level in more than a week.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports fell by $4/mt to $592.50/mt on Tuesday, reaching the lowest level since July 7. The G20-HSFO Index declined by $3/mt to $515.50/mt, while the G20-MGO Index lost $3/mt to $809.50/mt.
ICE Brent crude futures gained $1.13/bl to $79.63/bl on Tuesday.
VLSFO prices at the top ports mostly had a negative trend. At Singapore prices fell by $9.50/mt to $564.50/mt, at Rotterdam they rallied by $52/mt to $551.50/mt, at Fujairah they declined by $1/mt to $565/mt, and at Houston they slipped by $1/mt to $559/mt.
On Wednesday morning Brent crude futures were trading up by $0.10/bl at $79.73/bl as of 9:11 AM in London. In metric tonne terms that would be equivalent to a $0.75/mt rise in bunker prices.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 602.50 | 13.50 | 676.00 | 10.00 |
| Rotterdam | 540.50 | 6.50 | 665.50 | 18.00 |
| Houston | 552.50 | 21.50 | 685.50 | 25.00 |
| Fujairah | 592.50 | 17.50 | 783.00 | 10.00 |
| Global 20 Ports Average | 615.00 | 12.00 | 757.00 | 15.00 |
| Global 4 Ports Average | 572.00 | 14.50 | 702.50 | 16.00 |
| Global Average Bunker Price | 653.00 | 9.50 | 824.50 | 9.50 |
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