World News
BUNKER PRICES: G20-VLSFO Index on Longest Losing Streak Since February
Bunker fuel prices continued to fall at most ports on Tuesday, with global average VLSFO prices dropping for an eighth consecutive session in their longest losing streak since February.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports lost $3.50/mt to $617/mt on Tuesday, reaching the lowest level since July 25. The G20-HSFO Index fell by $1/mt to $501/mt, while the G20-MGO Index dropped by $6.50/mt to $834.50/mt.
ICE Brent crude futures sank by $2.79/bl to $73.24/bl on Tuesday.
VLSFO prices at the top ports mostly followed a negative trend. At Singapore prices fell by $3/mt to $600/mt, at Rotterdam they lost $4/mt to $531.50/mt, at Fujairah they were little changed at $599.50/mt, and at Houston they slipped by $13/mt to $536.50/mt.
On Wednesday morning Brent crude futures were trading down by $0.61/bl at $72.63/bl as of 8:23 AM in London. In metric tonne terms that would be equivalent to a $4.59/mt fall 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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