Global VLSFO prices have climbed in January. Image Credit: Ship & Bunker
Bunker fuel prices advanced for a third consecutive session at most ports on Tuesday, with average VLSFO prices at the highest level in nine weeks.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports gained $2.50/mt to $698/mt on Tuesday, remaining at the highest level since November 17. The G20-HSFO Index was unchanged at $472/mt, while the G20-MGO Index jumped by $9.50/mt to $1,069/mt.
ICE Brent crude futures lost $2.06bl to $86.13/bl on Tuesday.
VLSFO prices at the top ports mostly had a positive trend. At Singapore prices advanced by $4.50/mt to $699.50/mt, at Rotterdam they rose by $2.50/mt to $609/mt, at Fujairah they gained $10.50/mt to $685/mt and at Houston they dropped by $10.50/mt to $633.50/mt.
On Wednesday morning Brent futures were trading up by $0.41/bl at $86.54/bl as of 9:40 AM in London. In metric tonne terms that would amount to a $3.09/mt advance in bunker prices.