Global VLSFO prices rallied from a near-five-year low on Tuesday. Image Credit: Ship & Bunker
Bunker prices mostly rose at ports around the world on Tuesday, with global average VLSFO prices climbing for the first in eight consecutive trading sessions.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports jumped by $1/mt to $483.50/mt on Tuesday, having reached its lowest level since February 2021 the previous day.
The G20-HSFO Index slipped by $2/mt to $425/mt, while the G20-MGO Index dropped by $1/mt to $732/mt.
ICE Brent crude futures rose by $0.31/bl to $61.32/bl on Tuesday.
VLSFO prices at the top four ports were mixed in direction. At Singapore prices rose by $3.50/mt to $443.50/mt, at Rotterdam they declined by $4.50/mt to $419/mt, at Fujairah they jumped by $1/mt to $437.50/mt, and at Houston they sank by $7.50/mt to $428.50/mt.
On Wednesday morning Brent crude futures were trading up by $0.99/bl from the previous session's close at $62.31/bl as of 5:24 AM in London. In metric tonne terms that would be equivalent to a $7.45/mt rise in bunker prices.
