BUNKER PRICES: G20-VLSFO Index Drops to Two-Week Low

by Ship & Bunker News Team
Thursday June 1, 2023

Bunker fuel prices declined at most ports on Wednesday, with average global VLSFO prices dropping to the lowest level in more than two weeks.

Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports fell by $7.50/mt to $577/mt on Wednesday, reaching the lowest level since May 15. The G20-HSFO Index lost $16/mt to $467.50/mt, while the G20-MGO Index declined by $8/mt to $756.50/mt.

ICE Brent crude futures lost $1.11/bl to $72.60/bl on Wednesday.

VLSFO prices at the top ports had a negative trend. At Singapore prices sank by $16.50/mt to $561.50/mt, at Rotterdam they declined by $11.50/mt to $519.50/mt, at Fujairah they slipped by $12.50/mt to $549/mt, and at Houston they dropped by $7/mt to $518.50/mt.

On Thursday morning Brent crude futures were trading up by $0.21/bl at $72.81/bl as of 9:30 AM in London. In metric tonne terms that would be equivalent to a $1.58/mt rise in bunker prices.