BUNKER PRICES: G20-VLSFO Index Drops to Two-Week Low

by Ship & Bunker News Team
Wednesday February 7, 2024

Bunker fuel prices declined at most ports on Tuesday, with global average VLSFO prices slipping to the lowest level in almost two weeks.

Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports lost $2.50/mt to $645/mt on Tuesday, reaching the lowest level since January 24. The G20-HSFO Index rose by $1.50/mt to $494.50/mt, while the G20-MGO Index rallied by $2.50/mt to $869/mt.

ICE Brent crude futures rose by $0.60/bl to $78.59/bl on Tuesday.

VLSFO prices at the top ports were mixed in direction. At Singapore prices fell by $8/mt to $624.50/mt, at Rotterdam they lost $3/mt to $562/mt, at Fujairah they were little changed at $612/mt, and at Houston they jumped by $8/mt to $633.50/mt.

On Wednesday morning Brent futures were trading up by $0.03/bl from the previous session's close at $78.62/bl as of 5;20 AM in London. In metric tonne terms that would be equivalent to a $0.23/mt rise in bunker prices.