World News
BUNKER PRICES: G20-VLSFO Index Drops to Lowest Since September 2021
Bunker fuel prices declined at ports around the world on Tuesday, with global average VLSFO prices resuming their downward slide and nearing a four-year low.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports declined by $1.50/mt to $550.50/mt on Monday, reaching its lowest level since September 2021.
The G20-HSFO Index fell by $3.50/mt to $493.50/mt, while the G20-MGO Index sank by $3.50/mt to $745.50/mt.
ICE Brent crude futures advanced by $0.28/bl to $69.56/bl on Tuesday.
VLSFO prices at the top four ports mostly followed a negative trend. At Singapore prices were little changed at $508/mt, at Rotterdam they lost $0.50/mt to $494/mt, at Fujairah they were little changed at $510/mt, and at Houston they fell by $1/mt to $519.50/mt.
On Wednesday morning Brent futures were trading up by $0.42/bl from the previous session's close at $69.98/bl as of 8:32 AM in London. In metric tonne terms that would be equivalent to a $3.16/mt rise on the day in bunker prices.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 507.50 | 0.00 | 640.50 | 6.00 |
| Rotterdam | 494.00 | 0.50 | 631.00 | 1.50 |
| Houston | 519.50 | 1.00 | 669.00 | 0.50 |
| Fujairah | 510.00 | 0.00 | 738.50 | 3.50 |
| Global 20 Ports Average | 550.50 | 1.50 | 745.50 | 3.50 |
| Global 4 Ports Average | 507.50 | 1.00 | 670.00 | 3.00 |
| Global Average Bunker Price | 598.50 | 0.50 | 790.50 | 0.00 |
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