World News
BUNKER PRICES: G20-VLSFO Index Drops to Lowest Since September 2021
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.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 515.50 | 3.00 | 642.00 | 6.00 |
| Rotterdam | 492.00 | 5.00 | 623.00 | 8.00 |
| Houston | 528.00 | 3.50 | 666.50 | 9.00 |
| Fujairah | 508.00 | 6.00 | 740.00 | 4.00 |
| Global 20 Ports Average | 549.00 | 4.00 | 742.00 | 4.00 |
| Global 4 Ports Average | 511.00 | 4.50 | 668.00 | 6.50 |
| Global Average Bunker Price | 593.50 | 3.00 | 776.50 | 2.00 |
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