Global VLSFO prices remain below their level at the start of 2023. Image Credit: Ship & Bunker
Bunker fuel prices continued to advance at most ports on Monday, with global average VLSFO prices climbing for a seventh consecutive session.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports rose by $4.50/mt to $633.50/mt on Monday, remaining at the highest level since April 19. The G20-HSFO Index climbed by $10.50/mt to $562/mt, while the G20-MGO Index gained $13/mt to $896/mt.
ICE Brent crude futures gained $1.02/bl to $85.43/bl on Monday.
VLSFO prices at the top ports mostly had a positive trend. At Singapore prices advanced by $6/mt to $619.50/mt, at Rotterdam they were little changed at $590.50/mt, at Fujairah they climbed by $3.50/mt to $612/mt, and at Houston they rose by $8.50/mt to $597.50/mt.
On Tuesday morning Brent crude futures were trading down by $0.46/bl at $84.97/bl as of 9:28 AM in London. In metric tonne terms that would be equivalent to a $3.46/mt fall in bunker prices.