World News
BUNKER PRICES: G20-VLSFO Index Drops to Two-Week Low
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.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.00 | 1.50 | 685.50 | 5.50 |
| Rotterdam | 516.50 | 1.50 | 677.50 | 3.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 565.00 | 4.50 | 755.00 | 1.50 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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