World News
BUNKER PRICES: G20-VLSFO Index Drops to Two-Week Low
Bunker fuel prices declined at most ports on Tuesday, with global average VLSFO prices dropping to the lowest level in almost two weeks.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports lost $3.50/mt to $588.50/mt on Tuesday, reaching the lowest level since September 18.
The G20-HSFO Index slipped by $2/mt to $480.50/mt, while the G20-MGO Index fell by $2/mt to $728/mt.
ICE Brent crude futures rose by $1.86/bl to $73.56/bl on Tuesday.
VLSFO prices at the top four ports were mixed in direction. At Singapore prices lost $19.50/mt to $563.50/mt, at Rotterdam they were little changed at $522.50/mt, at Fujairah they declined by $17/mt to $555.50/mt, and at Houston they jumped by $5.50/mt to $514/mt.
On Wednesday morning Brent futures were trading up by $1.42/bl from the previous session's close at $74.98/bl as of 8:06 AM in London. In metric tonne terms that would be equivalent to a $10.69/mt rise in bunker prices.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.00 | 1.50 | 685.50 | 5.50 |
| Rotterdam | 516.50 | 1.50 | 677.50 | 3.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 565.00 | 4.50 | 755.00 | 1.50 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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