BUNKER PRICES: G20-VLSFO Index Drops to Two-Week Low
Global VLSFO prices remain higher than at the start of the year. Image Credit: Ship & Bunker
Bunker fuel prices dropped at most ports on Thursday, with global VLSFO prices hitting a two-week low.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports lost $15/mt to $688.50/mt on Thursday, reaching the lowest level since January 20. The G20-HSFO Index fell by $2.50/mt to $462/mt, while the G20-MGO Index declined by $9.50/mt to $1,017/mt.
ICE Brent crude futures lost $0.67bl to $82.17/bl on Thursday.
VLSFO prices at the top ports followed a negative trend. At Singapore prices slipped by $9.50/mt to $690.50/mt, at Rotterdam they sank by $29.50/mt to $589/mt, at Fujairah they slumped by $33.50/mt to $657.50/mt and at Houston they declined by $1/mt to $634/mt.
On Friday morning Brent futures were trading up by $0.26/bl at $82.43/bl as of 10:02 AM in London. In metric tonne terms that would amount to a $1.96/mt rise in bunker prices.