BUNKER PRICES: G20-VLSFO Index Drops to Four-Month Low

by Ship & Bunker News Team
Thursday May 16, 2024

Bunker fuel prices declined at most ports on Wednesday, with global average VLSFO prices sinking to the lowest level in almost four months.

Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports fell by $3.50/mt to $636/mt on Wednesday, reaching the lowest level since January 23. The G20-HSFO Index declined by $1.50/mt to $530/mt, while the G20-MGO Index sank by $4.50/mt to $815.50/mt.

ICE Brent crude futures rose by $0.37/bl to $82.75/bl on Wednesday.

VLSFO prices at the top ports followed a negative trend. At Singapore prices fell by $1/mt to $623.50/mt, at Rotterdam they slipped by $3.50/mt to $566/mt, at Fujairah they declined by $1/mt to $628/mt, and at Houston they dropped by $8/mt to $585/mt.

On Thursday morning Brent futures were trading up by $0.40/bl from the previous session's close at $83.15/bl as of 6:04 AM in London. In metric tonne terms that would be equivalent to a $3.01/mt rise in bunker prices.