Global VLSFO prices fell on Wednesday. Image Credit: Ship & Bunker
Bunker fuel prices slipped at ports around the world on Wednesday, with global average VLSFO prices dropping for the first in three consecutive sessions.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports lost $1/mt to $602/mt on Wednesday, having reached its highest level since February 5 the previous day.
The G20-HSFO Index fell by $2/mt to $520.50/mt, while the G20-MGO Index was little changed at $792.50/mt.
ICE Brent crude futures sank by $1.82/bl to $75.18/bl on Wednesday.
VLSFO prices at the top four ports followed a negative trend. At Singapore prices fell by $1/mt to $584/mt, at Rotterdam they lost $2.50/mt to $547/mt, at Fujairah they declined by $0.50/mt to $580/mt, and at Houston they slipped by $3/mt to $563/mt.
On Thursday morning Brent futures were trading down by $0.70/bl from the previous session's close at $74.48/bl as of 6:10 AM in London. In metric tonne terms that would be equivalent to a $5.27/mt fall on the day in bunker prices.
