World News
PRICES: Global VLSFO Sees Biggest Weekly Gain in Three Months
Bunker fuel prices advanced for a fifth consecutive day at most ports on Friday, leaving global VLSFO with the biggest weekly gain in three months.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports gained $12/mt to $659/mt on Friday, the highest level since December 6. Over last week as a whole the index advanced by $39.50/mt, the largest weekly gain since the week to October 7.
The G20-HSFO Index advanced by $0.50/mt to $447/mt on Friday, while the G20-MGO Index jumped by $17/mt to $1,022.50/mt.
ICE Brent crude futures gained $1.25/bl to $85.28/bl.
VLSFO prices at the top ports had a similar positive trend. At Singapore prices advanced by $21/mt to $630/mt, at Rotterdam they jumped by $6.50/mt to $571/mt, at Fujairah they rose by $12/mt to $627/mt and at Houston they climbed by $5/mt to $625/mt.
On Monday morning Brent futures were trading down by $0.81/bl at $84.47/bl as of 8:41 AM in London. In metric tonne terms that would amount to a $6.10/mt drop in bunker prices.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.50 | 1.00 | 770.00 | 3.50 |
| Rotterdam | 601.50 | 2.50 | 754.00 | 2.00 |
| Houston | 619.00 | 11.50 | 795.50 | 3.00 |
| Fujairah | 651.50 | 1.00 | 895.00 | 2.00 |
| Global 20 Ports Average | 664.00 | 1.50 | 856.50 | 2.00 |
| Global 4 Ports Average | 630.00 | 3.00 | 803.50 | 2.50 |
| Global Average Bunker Price | 718.00 | 0.50 | 914.50 | 0.50 |
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