Global VLSFO prices extended Tuesday's gains on Wednesday. Image Credit: Ship & Bunker
Bunker prices advanced at ports around the world on Wednesday, with global average VLSFO prices following crude futures higher and paring the previous day's losses.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports gained $2.50/mt to $529/mt on Wednesday, adding to the previous day's $0.50/mt gain.
The G20-HSFO Index jumped by $4/mt to $465/mt, while the G20-MGO Index advanced by $1.50/mt to $724/mt.
ICE Brent crude futures lost $1.32/bl to $66.12/bl on Wednesday.
VLSFO prices at the top four ports followed a positive trend. At Singapore prices gained $6.50/mt to $506.50/mt, at Rotterdam they rose by $1.50/mt to $460/mt, at Fujairah they advanced by $6/mt to $501/mt, and at Houston they jumped by $0.50/mt to $472.50/mt.
On Thursday morning Brent futures were trading up by $0.09/bl from the previous session's close at $66.21/bl as of 6:27 AM in London. In metric tonne terms that would be equivalent to a $0.68/mt rise on the day in bunker prices.
