Global VLSFO prices have seen a strong rise over the summer. Image Credit: Ship & Bunker
Bunker fuel prices advanced at most ports on Thursday, with global average VLSFO prices climbing to the highest level in more than seven months.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports gained $6/mt to $681/mt on Thursday, reaching the highest level since February 13. The G20-HSFO Index rose by $3/mt to $600/mt, while the G20-MGO Index jumped by $11/mt to $1,018/mt.
ICE Brent crude futures gained $1.82/bl to $93.70/bl on Thursday.
VLSFO prices at the top ports followed a positive trend. At Singapore prices gained $8.50/mt to $670.50/mt, at Rotterdam they jumped by $7.50/mt to $635/mt, at Fujairah they advanced by $6/mt to $661/mt, and at Houston they rose by $7/mt to $668/mt.
On Friday morning Brent crude futures were trading up by $0.44/bl at $94.14/bl as of 8:15 AM in London. In metric tonne terms that would be equivalent to a $3.31/mt rise in bunker prices.