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 | 602.50 | 13.50 | 676.00 | 10.00 |
| Rotterdam | 540.50 | 6.50 | 665.50 | 18.00 |
| Houston | 552.50 | 21.50 | 685.50 | 25.00 |
| Fujairah | 592.50 | 17.50 | 783.00 | 10.00 |
| Global 20 Ports Average | 615.00 | 12.00 | 757.00 | 15.00 |
| Global 4 Ports Average | 572.00 | 14.50 | 702.50 | 16.00 |
| Global Average Bunker Price | 653.00 | 9.50 | 824.50 | 9.50 |
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