Global VLSFO prices have risen strongly over the summer. Image Credit: Ship & Bunker
Bunker fuel prices advanced at most ports on Friday, with global average VLSFO prices climbing for a fifth consecutive session..
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports gained $6/mt to $687/mt on Friday, reaching the highest level since February 2. The G20-HSFO Index rose by $3.50/mt to $603.50/mt, while the G20-MGO Index jumped by $6/mt to $1,024/mt.
ICE Brent crude futures gained $0.23/bl to $93.93/bl on Friday.
VLSFO prices at the top ports followed a positive trend. At Singapore prices gained $5.50/mt to $676/mt, at Rotterdam they jumped by $8/mt to $643/mt, at Fujairah they advanced by $8/mt to $669/mt, and at Houston they rose by $2.50/mt to $670.50/mt.
On Monday morning Brent crude futures were trading up by $0.56/bl at $94.49/bl as of 9:03 AM in London. In metric tonne terms that would be equivalent to a $4.22/mt rise in bunker prices.