Global VLSFO prices advanced on Tuesday. Image Credit: Ship & Bunker
Bunker fuel prices climbed at most ports on Tuesday, with global average VLSFO prices moving higher for the first in five consecutive sessions.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports gained $1/mt to $666/mt on Tuesday, having held at the lowest level since March 14 in the previous session. The G20-HSFO Index advanced by $2/mt to $529.50/mt, while the G20-MGO Index lost $6.50/mt to $885.50/mt.
ICE Brent crude futures slipped by $0.50/bl to $86.25/bl on Tuesday.
VLSFO prices at the top ports were mixed in direction. At Singapore prices lost $1/mt to $646/mt, at Rotterdam they advanced by $1/mt to $601/mt, at Fujairah they climbed by $2/mt to $645/mt, and at Houston they were little changed at $652.50/mt.
On Wednesday morning Brent futures were down by $0.94/bl from the previous session's close at $85.31/bl as of 9:16 AM in London. In metric tonne terms that would equate to a $7.08/mt fall in bunker prices.
