Global VLSFO prices slipped on Monday. Image Credit: Ship & Bunker
Bunker prices declined at ports around the world on Monday, with global average VLSFO prices slipping for the first in three consecutive trading sessions.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports lost $3.50/mt to $526/mt on Monday, having reached its highest level since April 7 in the previous session.
The G20-HSFO Index fell by $1/mt to $463/mt, while the G20-MGO Index advanced by $3/mt to $720/mt.
ICE Brent crude dropped by $1.70/bl to $66.26/bl on Monday.
VLSFO prices at the top four ports followed a negative trend. At Singapore prices lost $6.50/mt to $495/mt, at Rotterdam they fell by $9/mt to $456.50/mt, at Fujairah they declined by $9/mt to $489.50/mt, and at Houston they slipped by $3.50/mt to $470.50/mt.
On Tuesday morning Brent futures were trading up by $0.37/bl from the previous session's close at $66.63/bl as of 5:24 AM in London. In metric tonne terms that would be equivalent to a $2.79/mt rise on the day in bunker prices.
