World News
BUNKER PRICES: VLSFO Global Average Drops to Pre-War Level
Bunker fuel prices sank with crude at most ports on Wednesday, with average global VLSFO prices dropping to levels not seen since before the outbreak of war in Ukraine last year.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports slumped by $15/mt to $586/mt on Wednesday, reaching the lowest level since December 1, 2021. The G20-HSFO Index lost $12.50/mt to $484/mt, while the G20-MGO Index sank by $15/mt to $780/mt.
ICE Brent crude futures lost $2.99/bl to $72.33/bl on Wednesday.
VLSFO prices at the top ports had a negative trend. At Singapore prices declined by $16/mt to $577/mt, at Rotterdam they dropped by $21/mt to $528/mt, at Fujairah they lost $14/mt to $569/mt and at Houston they slipped by $14/mt to $528.50/mt.
On Thursday morning Brent crude futures were trading up by $0.80/bl at $73.03/bl as of 9:21 AM in London. In metric tonne terms that would be equivalent to a $6.02/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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