Global VLSFO prices have been mixed in direction for the past few weeks. Image Credit: Ship & Bunker
Bunker fuel prices rose at most ports on Wednesday, with global average VLSFO prices climbing to the highest level in more than a week despite this week's slump in crude markets.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports gained $6/mt to $680.50/mt on Wednesday, reaching the highest level since October 23. The G20-HSFO Index gained $4/mt to $538/mt, while the G20-MGO Index advanced by $2/mt to $936/mt.
ICE Brent crude futures sank by $0.39/bl to $84.63/bl on Wednesday.
VLSFO prices at the top ports mostly followed a positive trend. At Singapore prices rose by $23/mt to $700/mt, at Rotterdam they gained $2/mt to $606/mt, at Fujairah they jumped by $16/mt to $688/mt, and at Houston they slipped by $2/mt to $611/mt.
On Thursday morning Brent crude futures were trading up by $0.94/bl at $85.57/bl as of 7:53 AM in London. In metric tonne terms that would be equivalent to a $7.08/mt rise in bunker prices.