Global VLSFO prices advanced at the start of the week. Image Credit: Ship & Bunker
Bunker fuel prices rose at ports around the world on Monday, with global average VLSFO prices climbing for the first in nine consecutive sessions.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports gained $2/mt to $599/mt on Monday, having reached its lowest level since January 10 in the previous session.
The G20-HSFO Index gained $6/mt to $518/mt, while the G20-MGO Index advanced by $5.50/mt to $785/mt.
ICE Brent crude futures jumped by $1.21/bl to $75.87/bl on Monday.
VLSFO prices at the top four ports mostly followed a positive trend. At Singapore prices rose by $3/mt to $577.50/mt, at Rotterdam they were little changed at $546/mt, at Fujairah they advanced by $4/mt to $570.50/mt, and at Houston they climbed by $3/mt to $563/mt.
On Tuesday morning Brent futures were trading down by $0.40/bl from the previous session's close at $76.47/bl as of 7:22 AM in London. In metric tonne terms that would be equivalent to a $3.01/mt rise on the day in bunker prices.
