Bunker prices continued to climb on Tuesday. Image Credit: Ship & Bunker
Bunker fuel prices advanced for a second consecutive session at most ports on Monday, with average VLSFO prices rising to the highest level in nine weeks.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports gained $8/mt to $695.50/mt on Monday, the highest level since November 17. The G20-HSFO Index advanced by $5.50/mt to $472/mt, while the G20-MGO Index jumped by $8.50/mt to $1,059.50/mt.
ICE Brent crude futures gained $0.56bl to $88.19/bl on Monday.
VLSFO prices at the top ports had a similar positive trend. At Singapore prices advanced by $13.50/mt to $698.50/mt, at Rotterdam they rose by $11/mt to $607.50/mt, at Fujairah they gained $8.50/mt to $678.50/mt and at Houston they rose by $15/mt to $648.50/mt.
On Tuesday morning Brent futures were trading up by $0.14/bl at $88.33/bl as of 9:12 AM in London. In metric tonne terms that would amount to a $1.05/mt advance in bunker prices.