Global bunker prices have dropped significantly in the past week. Image Credit: Ship & Bunker
Bunker fuel prices continued to drop at most ports on Thursday, with global average VLSFO prices falling for a fourth consecutive session..
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports lost $4/mt to $660.50/mt on Wednesday, reaching the lowest level since October 9. The G20-HSFO Index declined by $5/mt to $512/mt, while the G20-MGO Index sank by $14.50/mt to $892/mt.
ICE Brent crude futures advanced by $0.47/bl to $80.01/bl on Thursday.
VLSFO prices at the top ports followed a negative trend. At Singapore prices fell by $11/mt to $666.50/mt, at Rotterdam they lost $2/mt to $572.50/mt, at Fujairah they declined by $7.50/mt to $665.50/mt, and at Houston they slipped by $7/mt to $572/mt.
On Friday morning Brent crude futures were trading up by $0.75/bl at $80.76/bl as of 9:41 AM in London. In metric tonne terms that would be equivalent to a $5.65/mt rise in bunker prices.