BUNKER PRICES: G20-VLSFO Index Advances to Seven-Month High

by Ship & Bunker News Team
Wednesday September 13, 2023

Bunker fuel prices advanced at most ports on Tuesday, with global average VLSFO prices climbing to the highest level in almost seven months.

Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports gained $2.50/mt to $671/mt on Tuesday, reaching the highest level since February 16. The G20-HSFO Index lost $1.50/mt to $589.50/mt, while the G20-MGO Index jumped by $5/mt to $1,005/mt.

ICE Brent crude futures gained $1.42/bl to $92.06/bl on Tuesday.

VLSFO prices at the top ports were mixed in direction. At Singapore prices lost $0.50/mt to $653/mt, at Rotterdam they slipped by $1/mt to $617.50/mt, at Fujairah they advanced by $2/mt to $650/mt, and at Houston they jumped by $6.50/mt to $669.50/mt.

On Wednesday morning Brent crude futures were trading up by $0.27/bl at $92.33/bl as of 6:25 AM in London. In metric tonne terms that would be equivalent to a $2.03/mt rise in bunker prices.