World News
Ukraine Crisis Leaves VLSFO Price Beating Previous HSFO All-Time High
Surging crude markets after Russia's invasion of Ukraine this week have sent global average VLSFO prices above the record high for HSFO set more than a decade ago.
The average VLSFO price across Singapore, Rotterdam, Fujairah and Houston jumped by $20/mt to $758.50/mt on Thursday, according to Ship & Bunker's G4 index. VLSFO prices have been at record highs in their own terms for more than a month now, but the highs reached this week have now surpassed the historical all-time high for HSFO as well.
The record HSFO high back when that was the dominant bunker fuel was $739.25/mt averaged across the top four ports in the summer of 2008, maritime news provider Splash 247 reported this week.
This week's surge in bunker prices has come as a result of Russia's invasion of Ukraine, with analysts raising concerns over sanctions potentially cutting off Russian energy exports, as well as possible disruptions to supply from the conflict itself.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 579.00 | 12.50 | 633.00 | 0.00 |
| Rotterdam | 520.50 | 4.50 | 619.50 | 9.00 |
| Houston | 507.00 | 1.50 | 636.50 | 2.00 |
| Fujairah | 567.50 | 10.00 | 763.50 | 5.00 |
| Global 20 Ports Average | 591.00 | 6.50 | 726.00 | 2.50 |
| Global 4 Ports Average | 543.50 | 7.00 | 663.00 | 3.50 |
| Global Average Bunker Price | 635.50 | 8.00 | 803.50 | 2.50 |
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