Global bunker prices dropped sharply last week before rallying on Monday. Image Credit: Ship & Bunker
Bunker fuel prices jumped with crude futures at most ports on Monday, with global average VLSFO prices rising for the first in seven consecutive sessions.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports rose by $6.50/mt to $654/mt on Monday, in its first daily advance since September 28. The G20-HSFO Index gained $3.50/mt to $544/mt, while the G20-MGO Index advanced by $7.50/mt to $930.50/mt.
ICE Brent crude futures rose by $3.57/bl to $88.15/bl on Monday.
VLSFO prices at the top ports followed a positive trend. At Singapore prices rose by $20.50/mt to $655/mt, at Rotterdam they advanced by $12.50/mt to $606.50/mt, at Fujairah they climbed by $13.50/mt to $635/mt, and at Houston they rallied by $5/mt to $590.50/mt.
On Tuesday morning Brent crude futures were trading up by $0.11/bl at $88.26/bl as of 9:28 AM in London. In metric tonne terms that would be equivalent to a $0.83/mt rise in bunker prices.
