World News
BUNKER PRICES: G20-VLSFO Index Drops to Ten-Week Low
Bunker prices mostly declined at ports around the world on Tuesday, with global average VLSFO prices dropping to their lowest level in almost ten weeks.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports fell by $1.50/mt to $532/mt on Tuesday, reaching its lowest level since June 6.
The G20-HSFO Index declined by $0.50/mt to $456/mt, while the G20-MGO Index rose by $4/mt to $753/mt.
ICE Brent crude futures fell by $0.51/bl to $66.12/bl on Tuesday.
VLSFO prices at the top four ports were mixed in direction. At Singapore prices were little changed at $502.50/mt, at Rotterdam they rose by $4/mt to $477.50/mt, at Fujairah they advanced by $3.50/mt to $493/mt, and at Houston they dropped by $6.50/mt to $482/mt.
On Wednesday morning Brent crude futures were trading down by $0.18/bl from the previous session's close at $65.94/bl as of 7:23 AM in London. In metric tonne terms that would be equivalent to a $1.36/mt fall in bunker prices.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 502.50 | 0.00 | 659.50 | 0.50 |
| Rotterdam | 477.50 | 4.00 | 662.00 | 1.00 |
| Houston | 482.00 | 6.50 | 652.50 | 2.50 |
| Fujairah | 493.00 | 3.50 | 725.50 | 3.50 |
| Global 20 Ports Average | 532.00 | 1.50 | 753.00 | 4.00 |
| Global 4 Ports Average | 489.00 | 0.50 | 675.00 | 0.50 |
| Global Average Bunker Price | 572.00 | 1.50 | 795.00 | 0.50 |
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