World News
BUNKER PRICES: G20-VLSFO Index Drops to One-Week Low
Bunker prices mostly declined at ports around the world on Thursday, with global average VLSFO prices falling to their lowest level in almost a week.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports lost $1/mt to $529/mt on Thursday, reaching its lowest level since August 22.
The G20-HSFO Index rallied by $1/mt to $443.50/mt, while the G20-MGO Index sank by $0.50/mt to $745.50/mt.
ICE Brent crude futures advanced by $0.57/bl to $68.62/bl on Thursday.
VLSFO prices at the top four ports were mixed in direction. At Singapore prices fell by $0.50/mt to $502.50/mt, at Rotterdam they advanced by $2.50/mt to $474.50/mt, at Fujairah they rose by $2.50/mt to $504/mt, and at Houston they dropped by $0.50/mt to $491/mt.
On Friday morning Brent crude futures were trading down by $0.38/bl from the previous session's close at $68.24/bl as of 4:59 AM in London. In metric tonne terms that would be equivalent to a $2.86/mt fall in bunker prices.