Global VLSFO prices dropped to a two-week low on Tuesday. Image Credit: Ship & Bunker
Bunker fuel prices declined at most ports on Tuesday, with global average VLSFO prices dropping to the lowest level in almost two weeks.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports lost $1/t to $636/mt on Tuesday, reaching the lowest level since December 20. The G20-HSFO Index dropped by $2.50/mt to $505.50/mt, while the G20-MGO Index fell by $2/mt to $852/mt.
ICE Brent crude futures sank by $1.15/bl to $75.89/bl on Tuesday.
VLSFO prices at the top ports were mixed in direction. At Singapore prices fell by $9.50/mt to $609/mt, at Rotterdam they gained $1/mt to $555.50/mt, at Fujairah they jumped by $5/mt to $619.50/mt, and at Houston they declined by $5/mt to $562/mt.
On Wednesday morning Brent crude futures were trading up by $0.06/bl at $75.95/bl as of 6:19 AM in London. In metric tonne terms that would be equivalent to a $0.45/mt rise in bunker prices.
