Global VLSFO prices rallied on Monday after more than a week of declines. Image Credit: Ship & Bunker
Bunker fuel prices advanced at most ports on Monday, with global average VLSFO prices climbing for the first in six consecutive sessions.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports gained $4/mt to $639/mt on Monday, in its first daily advance since July 5.
The G20-HSFO Index slipped by $2/mt to $547.50/mt, while the G20-MGO Index declined by $0.50/mt to $828/mt.
ICE Brent crude futures dropped by $0.18/bl to $84.85/bl on Monday.
VLSFO prices at the top four ports followed a negative trend. At Singapore prices lost $2.50/mt to $627/mt, at Rotterdam they fell by $2/mt to $580/mt, at Fujairah they declined by $4.50/mt to $629.50/mt, and at Houston they slipped by $1.50/mt to $610.50/mt.
On Tuesday morning Brent futures were trading down by $0.29/bl from the previous session's close at $84.56/bl as of 6:32 AM in London. In metric tonne terms that would be equivalent to a $2.18/mt fall in bunker prices.
