Global VLSFO prices jumped at the start of the week. Image Credit: Ship & Bunker
Bunker prices mostly advanced at ports around the world on Monday, with global average VLSFO prices climbing to the highest level in more than five weeks.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports gained $5/mt to $531/mt on Monday, reaching its highest level since April 4.
The G20-HSFO Index jumped by $6/mt to $461.50/mt, while the G20-MGO Index rose by $6.50/mt to $707/mt.
ICE Brent crude futures jumped by $1.05/bl to $64.96/bl on Monday.
VLSFO prices at the top four ports followed a positive trend. At Singapore prices rose by $3/mt to $514/mt, at Rotterdam they advanced by $8/mt to $459/mt, at Fujairah they climbed by $10.50/mt to $508.50/mt, and at Houston they jumped by $9.50/mt to $460/mt.
On Tuesday morning Brent crude futures were trading down by $0.19/bl from the previous session's close at $64.77/bl as of 7:15 AM in London. In metric tonne terms that would be equivalent to a $1.43/mt fall in bunker prices.
