BUNKER PRICES: G20-VLSFO Index Drops to One-Week Low

by Ship & Bunker News Team
Wednesday May 24, 2023

Bunker fuel prices slipped at most ports on Tuesday, with average global VLSFO prices hitting the lowest level in almost a week.

Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports fell by $4.50/mt to $585/mt on Tuesday, reaching the lowest level since May 17. The G20-HSFO Index gained $0.50/mt to $487/mt, while the G20-MGO Index lost $2/mt to $772.50/mt.

ICE Brent crude futures gained $0.85/bl to $76.84/bl on Tuesday.

VLSFO prices at the top ports had a negative trend. At Singapore prices fell by $0.50/mt to $578.50/mt, at Rotterdam they declined by $4.50/mt to $528/mt, at Fujairah they slipped by $2/mt to $562/mt, and at Houston they sank by $8/mt to $525.50/mt.

On Wednesday morning Brent crude futures were trading up by $0.55/bl at $77.39/bl as of 8:23 AM in London. In metric tonne terms that would be equivalent to a $4.14/mt rise in bunker prices.