Global VLSFO prices remain lower than where they started the year. Image Credit: Ship & Bunker
Bunker fuel prices slipped at most ports on Monday, with average global VLSFO prices dropping for a seventh consecutive session.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports fell by $1.50/mt to $611.50/mt on Monday, reaching the lowest level since March 30. The G20-HSFO Index was little changed at $508/mt, while the G20-MGO Index dropped by $2/mt to $835/mt.
ICE Brent crude futures gained $1.07/bl to $82.73/bl on Monday.
VLSFO prices at the top ports had a mixed trend. At Singapore prices rose by $2.50/mt to $594.50/mt, at Rotterdam they advanced by $7/mt to $558/mt, at Fujairah they dropped by $0.50/mt to $591/mt and at Houston they sank by $0.50/mt to $576/mt.
On Tuesday morning Brent crude futures were trading down by $0.25/bl at $82.48/bl as of 10:43 AM in London. In metric tonne terms that would be equivalent to a $1.88/mt fall in bunker prices.