BUNKER PRICES: G20-VLSFO Index Drops for First in Three Sessions

by Ship & Bunker News Team
Tuesday May 14, 2024

Bunker fuel prices declined at most ports on Monday, with global average VLSFO prices slipping for the first in three consecutive sessions.

Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports fell by $5.50/mt to $640/mt on Monday, reaching the lowest level since May 8. The G20-HSFO Index declined by $5/mt to $533.50/mt, while the G20-MGO Index sank by $9/mt to $821.50/mt.

ICE Brent crude futures rose by $0.57/bl to $83.36/bl on Monday.

VLSFO prices at the top ports followed a negative trend. At Singapore prices fell by $8/mt to $627.50/mt, at Rotterdam they slipped by $10/mt to $570.50/mt, at Fujairah they declined by $5.50/mt to $627/mt, and at Houston they dropped by $6/mt to $590/mt.

On Tuesday morning Brent futures were trading down by $0.12/bl from the previous session's close at $83.24/bl as of 9:41 AM in London. In metric tonne terms that would be equivalent to a $0.90/mt rise in bunker prices.