Global VLSFO prices rallied on the last day of July after a series of declines. Image Credit: Ship & Bunker
Bunker fuel prices advanced at most ports on Wednesday, with global average VLSFO prices rising for the first day in three as crude futures jumped.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports gained $1/mt to $617/mt on Wednesday, in its first daily advance since July 26.
The G20-HSFO Index advanced by $2/mt to $525/mt, while the G20-MGO Index climbed by $1.50/mt to $800/mt.
ICE Brent crude futures jumped by $2.77/bl to $80.84/bl on Wednesday.
VLSFO prices at the top four ports were mixed in direction. At Singapore prices lost $2/mt to $611/mt, at Rotterdam they fell by $0.50/mt to $556.50/mt, at Fujairah they advanced by $1/mt to $604/mt, and at Houston they jumped by $2.50/mt to $569/mt.
On Thursday morning Brent futures were trading up by $0.60/bl from the previous session's close at $81.44/bl as of 7:55 AM in London. In metric tonne terms that would be equivalent to a $4.52/mt rise in bunker prices.
