Global VLSFO prices have dropped this week. Image Credit: Ship & Bunker
Bunker fuel prices slipped at ports around the world on Thursday, with global average VLSFO prices dropping to the lowest level in almost four weeks.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports sank by $6/mt to $599.50/mt on Thursday, reaching its lowest level since January 10.
The G20-HSFO Index lost $1.50/mt to $508/mt, while the G20-MGO Index declined by $4.50/mt to $778.50/mt.
ICE Brent crude futures sank by $0.32/bl to $74.29/bl on Thursday.
VLSFO prices at the top four ports followed a negative trend. At Singapore prices fell by $7/mt to $575/mt, at Rotterdam they declined by $7.50/mt to $550.50/mt, at Fujairah they slipped by $10.50/mt to $565/mt, and at Houston they dropped by $3.50/mt to $559.50/mt.
On Friday morning Brent futures were trading up by $0.50/bl from the previous session's close at $74.79/bl as of 8:01 AM in London. In metric tonne terms that would be equivalent to a $3.77/mt rise on the day in bunker prices.
