BUNKER PRICES: G20-VLSFO Index Advances to Near Three-Week High

by Ship & Bunker News Team
Wednesday June 19, 2024

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.