BUNKER PRICES: G20-VLSFO Index Drops to Lowest Level Since End of 2021
Global VLSFO prices are at their lowest point since the end of 2021. Image Credit: Ship & Bunker
Bunker fuel prices continued to decline at most ports on Wednesday, with global VLSFO prices erasing this year's gains and dropping to the lowest level since the end of 2021.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports lost $10/mt to $613/mt on Wednesday, dropping to the lowest level since December 27, 2021. The G20-HSFO Index fell by $7/mt to $463/mt, while the G20-MGO Index declined by $10.50/mt to $887/mt.
ICE Brent crude futures lost $3.76/bl to $73.69/bl on Wednesday.
VLSFO prices at the top ports mostly followed a negative trend. At Singapore prices fell by $11.50/mt to $577/mt, at Rotterdam they slipped by $13/mt to $544.50/mt, at Fujairah they declined by $1/mt to $577.50/mt and at Houston they dropped by $17/mt to $584/mt.
On Thursday morning Brent futures were trading up by $0.80/bl at $74.49/bl as of 9:45 AM in London. In metric tonner terms that would amount to a $6.02/mt rise in bunker prices.