World News
BUNKER PRICES: G20-VLSFO Index Drops to Two-Week Low
Bunker fuel prices declined at most ports on Wednesday, with global average VLSFO prices dropping to the lowest level in two weeks.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports lost $3/mt to $585/mt on Wednesday, reaching the lowest level since October 29.
The G20-HSFO Index slipped by $0.50/mt to at $487.50/mt, while the G20-MGO Index rose by $1/mt to $749.50/mt.
ICE Brent crude futures rose by $0.39/bl to $72.28/bl on Wednesday.
VLSFO prices at the top four ports followed a negative trend. At Singapore prices lost $1.50/mt to $571.50/mt, at Rotterdam they declined by $1.50/mt to $515/mt, at Fujairah they sank by $6.50/mt to $560.50/mt, and at Houston they dropped by $5/mt to $542.50/mt.
On Thursday morning Brent futures were trading down by $0.42/bl from the previous session's close at $71.86/bl as of 5:59 AM in London. In metric tonne terms that would be equivalent to a $3.16/mt rise in bunker prices.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 553.50 | 0.00 | 673.00 | 0.00 |
| Rotterdam | 514.50 | 0.00 | 651.00 | 0.00 |
| Houston | 545.00 | 0.00 | 671.00 | 0.00 |
| Fujairah | 543.00 | 0.00 | 747.00 | 0.00 |
| Global 20 Ports Average | 574.00 | 0.00 | 748.00 | 0.00 |
| Global 4 Ports Average | 539.00 | 0.00 | 685.50 | 0.00 |
| Global Average Bunker Price | 627.00 | 0.50 | 799.50 | 1.00 |
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