World News
BUNKER PRICES: G20-VLSFO Index Drops to Four-Month Low
Bunker prices mostly declined at ports around the world on Tuesday, with global average VLSFO prices dropping to their lowest level in more than four months.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports lost $0.50/mt to $524/mt on Tuesday, remaining at its lowest level since May 8.
The G20-HSFO Index rose by $4/mt to $439/mt, while the G20-MGO Index jumped by $4.50/mt to $758.50/mt.
ICE Brent crude futures climbed by $0.37/bl to $66.39/bl on Tuesday.
VLSFO prices at the top four ports mostly followed a positive trend. At Singapore prices rose by $2/mt to $488/mt, at Rotterdam they declined by $3.50/mt to $469.50/mt, at Fujairah they jumped by $3.50/mt to $488/mt, and at Houston they climbed by $11.50/mt to $488.50/mt.
On Wednesday morning Brent crude futures were trading up by $0.57/bl from the previous session's close at $66.96/bl as of 5:22 AM in London. In metric tonne terms that would be equivalent to a $4.29/mt rise in bunker prices.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 484.50 | 6.00 | 686.00 | 8.00 |
| Rotterdam | 443.00 | 8.00 | 669.00 | 9.00 |
| Houston | 461.50 | 10.00 | 664.00 | 13.50 |
| Fujairah | 484.50 | 3.00 | 730.00 | 1.50 |
| Global 20 Ports Average | 514.00 | 2.50 | 763.50 | 4.00 |
| Global 4 Ports Average | 468.50 | 6.50 | 687.00 | 8.50 |
| Global Average Bunker Price | 563.50 | 7.00 | 803.00 | 1.50 |
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