World News
BUNKER PRICES: G20-VLSFO Index Sinks for Fifth Session
Bunker fuel prices sank at most ports on Wednesday, with global average VLSFO prices dropping for a fifth consecutive session to the lowest level in more than 10 months.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports fell by $9/mt to $597.50/mt on Wednesday, reaching the lowest level since July 20. The G20-HSFO Index dropped by $6.50/mt to $522.50/mt, while the G20-MGO Index slipped by $6/mt to $782.50/mt.
ICE Brent crude futures rallied by $0.89/bl to $78.41/bl on Wednesday.
VLSFO prices at the top ports followed a negative trend. At Singapore prices fell by $8.50/mt to $579/mt, at Rotterdam they dropped by $8/mt to $526/mt, at Fujairah they declined by $11.50/mt to $574.50/mt, and at Houston they sank by $5/mt to $563.50/mt.
On Thursday morning Brent futures were trading up by $0.38/bl from the previous session's close at $78.79/bl as of 6:13 AM in London. In metric tonne terms that would be equivalent to a $2.86/mt rise in bunker prices.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 569.50 | 0.00 | 680.00 | 0.00 |
| Rotterdam | 515.00 | 1.00 | 674.00 | 2.00 |
| Houston | 550.00 | 2.50 | 678.00 | 6.50 |
| Fujairah | 560.50 | 0.50 | 753.50 | 2.50 |
| Global 20 Ports Average | 586.00 | 0.00 | 761.00 | 2.00 |
| Global 4 Ports Average | 549.00 | 1.00 | 696.50 | 2.00 |
| Global Average Bunker Price | 634.50 | 1.00 | 800.50 | 2.00 |
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