Global VLSFO prices are on the decline again. Image Credit: Ship & Bunker
Bunker fuel prices declined at ports around the world on Wednesday, with global average VLSFO prices dropping to the lowest level in three and a half years.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports lost $4/mt to $549/mt on Wednesday, reaching its lowest level since September 2021.
The G20-HSFO Index fell by $5.50/mt to $489/mt, while the G20-MGO Index sank by $4/mt to $742/mt.
ICE Brent crude futures advanced by $0.22/bl to $70.78/bl on Wednesday.
VLSFO prices at the top four ports followed a negative trend. At Singapore prices fell by $3/mt to $515.50/mt, at Rotterdam they slipped by $5/mt to $492/mt, at Fujairah they declined by $6/mt to $508/mt, and at Houston they dropped by $3.50/mt to $528/mt.
On Thursday morning Brent futures were trading up by $0.38/bl from the previous session's close at $71.16/bl as of 5:42 AM in London. In metric tonne terms that would be equivalent to a $2.86/mt rise on the day in bunker prices.
