BUNKER PRICES: G20-VLSFO Index Drops for Eighth Session
Bunker prices have erased most of this year's gains this month. Image Credit: Ship & Bunker
Bunker fuel prices declined at most ports on Thursday, with global VLSFO prices dropping for an eighth consecutive session to the lowest level in almost six weeks.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports lost $8.50/mt to $633/mt on Thursday, remaining at the lowest point since January 11. The G20-HSFO Index slipped by $5/mt to $451.50/mt, while the G20-MGO Index declined by $12.50/mt to $913/mt.
ICE Brent crude futures gained $1.61bl to $82.21/bl on Thursday.
VLSFO prices at the top ports had a negative trend. At Singapore prices fell by $16/mt to $588.50/mt, at Rotterdam they slipped by $6.50/mt to $556.50/mt, at Fujairah they dropped by $15/mt to $592.50/mt and at Houston they declined by $6.50/mt to $612.50/mt.
On Friday morning Brent futures were trading up by $0.95/bl at $83.16/bl as of 10:34 AM in London. In metric tonner terms that would amount to a $7.15/mt rise in bunker prices.
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