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BUNKER PRICES: G20-VLSFO Index Drops to Lowest Since 2021
Bunker fuel prices dropped at ports around the world on Tuesday, with global average VLSFO prices sinking to the lowest level in three and a half years.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports lost $8.50/mt to $565/mt on Tuesday, reaching its lowest level since August 2021.
The G20-HSFO Index dropped by $11.50/mt to $496.50/mt, while the G20-MGO Index sank by $11/mt to $760.50/mt.
ICE Brent crude futures dropped by $0.58/bl to $71.04/bl on Tuesday.
VLSFO prices at the top four ports followed a negative trend. At Singapore prices fell by $14/mt to $516/mt, at Rotterdam they lost $10.50/mt to $507/mt, at Fujairah they declined by $14.50/mt to $519.50/mt, and at Houston they sank by $6/mt to $530.50/mt.
On Tuesday morning Brent futures were trading up by $0.03/bl from the previous session's close at $71.07/bl as of 7:06 AM in London. In metric tonne terms that would be equivalent to a $0.23/mt rise on the day in bunker prices.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 513.00 | 3.00 | 649.50 | 1.00 |
| Rotterdam | 506.50 | 0.50 | 646.50 | 0.50 |
| Houston | 526.00 | 4.50 | 681.50 | 7.00 |
| Fujairah | 514.00 | 5.50 | 739.00 | 1.00 |
| Global 20 Ports Average | 559.00 | 6.00 | 757.50 | 3.00 |
| Global 4 Ports Average | 515.00 | 3.50 | 679.00 | 1.50 |
| Global Average Bunker Price | 605.00 | 6.00 | 797.50 | 5.50 |
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