World News
BUNKER PRICES: G20-VLSFO Index Drops to Two-Week Low
Bunker prices mostly declined at ports around the world on Tuesday, with global average VLSFO prices dropping to the lowest level in two weeks.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports lost $1.50/mt to $531/mt on Tuesday, reaching its lowest level since May 12.
The G20-HSFO Index sank by $4/mt to $457.50/mt, while the G20-MGO Index fell by $3.50/mt to $706.50/mt.
ICE Brent crude futures slipped by $0.65/bl to $64.09/bl on Tuesday.
VLSFO prices at the top four ports mostly followed a negative trend. At Singapore prices fell by $2/mt to $511/mt, at Rotterdam they declined by $6.50/mt to $469.50/mt, at Fujairah they sank by $5.50/mt to $500/mt, and at Houston they jumped by $5.50/mt to $472/mt.
On Wednesday morning Brent crude futures were trading up by $0.31/bl from the previous session's close at $64.40/bl as of 5:54 AM in London. In metric tonne terms that would be equivalent to a $2.33/mt rise in bunker prices.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 510.00 | 1.00 | 600.50 | 1.50 |
| Rotterdam | 472.50 | 3.00 | 612.50 | 3.00 |
| Houston | 472.00 | 0.00 | 619.00 | 0.50 |
| Fujairah | 502.00 | 2.00 | 709.00 | 4.50 |
| Global 20 Ports Average | 532.00 | 1.00 | 706.00 | 0.50 |
| Global 4 Ports Average | 489.50 | 1.50 | 635.50 | 2.00 |
| Global Average Bunker Price | 568.50 | 1.00 | 753.50 | 1.00 |
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