Global VLSFO prices have dipped significantly over the past two weeks. Image Credit: Ship & Bunker
Bunker fuel prices continued to sink with crude at most ports on Thursday, with global average VLSFO prices dropping to the lowest level in more than four months.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports lost $15.50/mt to $624/mt on Thursday, reaching the lowest level since July 27. The G20-HSFO Index fell by $11/mt to $501/mt, while the G20-MGO Index dropped by $8/mt to $851/mt.
ICE Brent crude futures sank by $0.25/bl to $74.05/bl on Thursday.
VLSFO prices at the top ports followed a negative trend. At Singapore prices fell by $21.50/mt to $604/mt, at Rotterdam they lost $15.50/mt to $540.50/mt, at Fujairah they slipped by $20.50/mt to $595.50/mt, and at Houston they sank by $10/mt to $547/mt.
On Friday morning Brent crude futures were trading up by $1.49/bl at $75.54/bl as of 6:19 AM in London. In metric tonne terms that would be equivalent to an $11.22/mt rise in bunker prices.
