Global VLSFO prices are sliding after a strong rise earlier in the summer. Image Credit: Ship & Bunker
Bunker fuel prices sank at most ports on Wednesday, with global average VLSFO prices dropping to the lowest level in more than three weeks.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports fell by $3.50/mt to $645.50/mt on Wednesday, reaching the lowest level since August 1. The G20-HSFO Index slipped by $5.50/mt to $579.50/mt, while the G20-MGO Index advanced by $6/mt to $956/mt.
ICE Brent crude futures lost $0.62/bl to $83.21/bl on Wednesday.
VLSFO prices at the top ports followed a negative trend. At Singapore prices fell by $6/mt to $629.50/mt, at Rotterdam they lost $9.50/mt to $592.50/mt, at Fujairah they declined by $7.50/mt to $623/mt, and at Houston they dropped by $1.50/mt to $627.50/mt.
On Thursday morning Brent crude futures were trading down by $0.61/bl at $82.60/bl as of 9:01 AM in London. In metric tonne terms that would be equivalent to a $4.59/mt fall in bunker prices.
