Global VLSFO prices rallied at the start of the week. Image Credit: Ship & Bunker
Bunker prices mostly advanced at ports around the world on Monday, with global average VLSFO prices advancing for the first in three consecutive trading sessions.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports gained $0.50/mt to $532.50/mt on Monday, having reached its lowest level since May 13 in the previous session.
The G20-HSFO Index gained $1/mt to $461.50/mt, while the G20-MGO Index rose by $1.50/mt to $710/mt.
ICE Brent crude futures slipped by $0.04/bl to $64.74/bl on Monday.
VLSFO prices at the top four ports were mixed in direction. At Singapore prices rose by $2/mt to $513/mt, at Rotterdam they declined by $3/mt to $476/mt, at Fujairah they sank by $0.50/mt to $505.50/mt, and at Houston they jumped by $2/mt to $466.50/mt.
On Tuesday morning Brent crude futures were trading down by $0.15/bl from the previous session's close at $64.59/bl as of 5:46 AM in London. In metric tonne terms that would be equivalent to a $1.13/mt fall in bunker prices.
