Global VLSFO prices are back at multi-week highs. Image Credit: Ship & Bunker
Bunker prices mostly advanced at ports around the world on Wednesday, with global average VLSFO prices rising to the highest level in almost two weeks.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports jumped by $4/mt to $559.50/mt on Wednesday, reaching its highest level since June 24.
The G20-HSFO Index rose by $1/mt to $468.50/mt, while the G20-MGO Index jumped by $12.50/mt to $787/mt.
ICE Brent crude futures rose by $0.04/bl to $70.19/bl on Wednesday.
VLSFO prices at the top four ports mostly followed a positive trend. At Singapore prices rose by $6.50/mt to $535.50/mt, at Rotterdam they advanced by $8/mt to $527.50/mt, at Fujairah they climbed by $3/mt to $523.50/mt, and at Houston they slipped by $1.50/mt to $500/mt.
On Thursday morning Brent crude futures were trading up by $0.11/bl from the previous session's close at $70.30/bl as of 5:58 AM in London. In metric tonne terms that would be equivalent to a $0.83/mt rise in bunker prices.
