World News
BUNKER PRICES: G20-VLSFO Index Drops to Five-Week Low
Bunker fuel prices sank at most ports on Tuesday, with global average VLSFO prices falling to the lowest level in five weeks.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports dropped by $4/mt to $626/mt on Tuesday, reaching the lowest level since June 18.
The G20-HSFO Index declined by $2/mt to $533/mt, while the G20-MGO Index sank by $2/mt to $816/mt.
ICE Brent crude futures slipped by $1.39/bl to $81.01/bl on Tuesday.
VLSFO prices at the top four ports mostly followed a negative trend. At Singapore prices lost $3.50/mt to $612.50/mt, at Rotterdam they fell by $1.50/mt to $566/mt, at Fujairah they advanced by $0.50/mt to $614.50/mt, and at Houston they dropped by $9/mt to $585/mt.
On Wednesday morning Brent futures were trading up by $0.28/bl from the previous session's close at $81.29/bl as of 8:41 AM in London. In metric tonne terms that would be equivalent to a $2.11/mt rise in bunker prices.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 569.50 | 0.00 | 680.00 | 0.00 |
| Rotterdam | 515.00 | 1.00 | 674.00 | 2.00 |
| Houston | 550.00 | 2.50 | 678.00 | 6.50 |
| Fujairah | 560.50 | 0.50 | 753.50 | 2.50 |
| Global 20 Ports Average | 586.00 | 0.00 | 761.00 | 2.00 |
| Global 4 Ports Average | 549.00 | 1.00 | 696.50 | 2.00 |
| Global Average Bunker Price | 634.50 | 1.00 | 800.50 | 2.00 |
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