Global VLSFO prices have generally risen over the past two weeks. Image Credit: Ship & Bunker
Bunker fuel prices climbed at most ports on Tuesday, with global average VLSFO prices advancing to the highest level in almost three weeks.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports gained $6/mt to $624/mt on Tuesday, reaching the highest level since May 30.
The G20-HSFO Index rose by $3.50/mt to $536/mt, while the G20-MGO Index advanced by $0.50/mt to $802.50/mt.
ICE Brent crude futures jumped by $1.08/bl to $85.33/bl on Tuesday.
VLSFO prices at the top ports followed a positive trend. At Singapore prices gained $6.50/mt to $606/mt, at Rotterdam they rose by $7/mt to $555/mt, at Fujairah they advanced by $5/mt to $606.50/mt, and at Houston they jumped by $8.50/mt to $586.50/mt.
On Wednesday morning Brent futures were trading down by $0.38/bl from the previous session's close at $84.95/bl as of 7:50 AM in London. In metric tonne terms that would be equivalent to a $2.86/mt fall in bunker prices.
