Global VLSFO prices have risen to their highest level since mid-May. Image Credit: Ship & Bunker
Bunker prices mostly advanced at ports around the world on Wednesday, with global average VLSFO prices rising to the highest level in three weeks.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports rose by $3/mt to $537.50/mt on Wednesday, reaching its highest level since May 21.
The G20-HSFO Index slipped by $0.50/mt to $466.50/mt, while the G20-MGO Index climbed by $3.50/mt to $720.50/mt.
ICE Brent crude futures jumped by $2.90/bl to $69.77/bl on Wednesday.
VLSFO prices at the top four ports followed a positive trend. At Singapore prices rose by $4/mt to $516.50/mt, at Rotterdam they advanced by $0.50/mt to $482/mt, at Fujairah they climbed by $2/mt to $506/mt, and at Houston they jumped by $5/mt to $486.50/mt.
On Thursday morning Brent crude futures were trading down by $0.27/bl from the previous session's close at $69.50/bl as of 5:31 AM in London. In metric tonne terms that would be equivalent to a $2.03/mt fall in bunker prices.
