Global VLSFO prices climbed for the first time since May 14 on Tuesday. Image Credit: Ship & Bunker
Bunker prices mostly advanced at ports around the world on Tuesday, with global average VLSFO prices rising for the first in four consecutive trading sessions.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports gained $1.50/mt to $538.50/mt on Tuesday, in its first daily advance since May 14.
The G20-HSFO Index gained $12.50/mt to $481.50/mt, while the G20-MGO Index fell by $3.50/mt to $708.50/mt.
ICE Brent crude futures slipped by $0.16/bl to $65.38/bl on Tuesday.
VLSFO prices at the top four ports mostly were mixed in direction. At Singapore prices fell by $1.50/mt to $521.50/mt, at Rotterdam they advanced by $2.50/mt to $476.50/mt, at Fujairah they dropped by $1.50/mt to $513.50/mt, and at Houston they climbed by $2/mt to $471/mt.
On Wednesday morning Brent crude futures were trading up by $1.10/bl from the previous session's close at $66.48/bl as of 6:27 AM in London. In metric tonne terms that would be equivalent to an $8.28/mt rise in bunker prices.
