World News
BUNKER PRICES: G20-VLSFO Index Drops to Two-Week Low
Bunker prices mostly declined at ports around the world on Wednesday, with global average VLSFO prices dropping to their lowest level in two weeks.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports fell by $5/mt to $552/mt on Wednesday, reaching its lowest level since July 2.
The G20-HSFO Index fell by $4/mt to $460.50/mt, while the G20-MGO Index declined by $3/mt to $770.50/mt.
ICE Brent crude futures dropped by $0.19/bl to $68.52/bl on Wednesday.
VLSFO prices at the top four ports followed a negative trend. At Singapore prices fell by $3.50/mt to $522/mt, at Rotterdam they declined by $2/mt to $505.50/mt, at Fujairah they slipped by $6/mt to $512.50/mt, and at Houston they dropped by $1.50/mt to $496.50/mt.
On Thursday morning Brent crude futures were trading up by $0.25/bl from the previous session's close at $68.77/bl as of 6:14 AM in London. In metric tonne terms that would be equivalent to a $1.88/mt rise in bunker prices.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 516.50 | 3.00 | 692.50 | 3.50 |
| Rotterdam | 506.00 | 1.50 | 713.50 | 14.00 |
| Houston | 501.50 | 0.00 | 732.50 | 10.00 |
| Fujairah | 511.00 | 3.00 | 750.00 | 2.50 |
| Global 20 Ports Average | 550.00 | 0.50 | 775.00 | 1.50 |
| Global 4 Ports Average | 508.50 | 2.00 | 722.00 | 1.50 |
| Global Average Bunker Price | 588.00 | 0.00 | 818.50 | 2.50 |
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