World News
BUNKER PRICES: G20-VLSFO Index Drops to One-Week Low
Bunker prices mostly declined at ports around the world on Tuesday, with global average VLSFO prices falling to its lowest level in more than a week.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports fell by $25.50/mt to $562.50/mt on Tuesday, reaching its lowest level since June 13.
The G20-HSFO Index fell by $30.50/mt to $477.50/mt, while the G20-MGO Index sank by $36/mt to $769/mt.
ICE Brent crude futures dropped by $4.34/bl to $67.14/bl on Tuesday.
VLSFO prices at the top four ports followed a negative trend. At Singapore prices fell by $40.50/mt to $530/mt, at Rotterdam they declined by $43/mt to $489/mt, at Fujairah they sank by $42/mt to $518/mt, and at Houston they dropped by $35.50/mt to $511/mt.
On Wednesday morning Brent crude futures were trading up by $0.82/bl from the previous session's close at $68.06/bl as of 5:19 AM in London. In metric tonne terms that would be equivalent to a $1.37/mt rise in bunker prices.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 516.50 | 3.00 | 692.50 | 3.50 |
| Rotterdam | 506.00 | 1.50 | 713.50 | 14.00 |
| Houston | 501.50 | 0.00 | 732.50 | 10.00 |
| Fujairah | 511.00 | 3.00 | 750.00 | 2.50 |
| Global 20 Ports Average | 550.00 | 0.50 | 775.00 | 1.50 |
| Global 4 Ports Average | 508.50 | 2.00 | 722.00 | 1.50 |
| Global Average Bunker Price | 588.00 | 0.00 | 818.50 | 2.50 |
Popular Now More
-
Jul 22The UK has sanctioned 135 ships and Lukoil's Dubai trading arm in a fresh move to disrupt Russia's shadow fleet and cut off oil revenues. -
Jul 21The EU has unveiled its new sanctions package against Russia, cutting the oil price cap to $47.6/bbl and blacklisting over 100 more vessels, including for the first time an Indian refinery linked to Rosneft. -
Jul 22The European Commission is planning reforms to improve biofuel certification and traceability after a probe into Chinese imports revealed weaknesses, though no fraud was confirmed.