World News
BUNKER PRICES: G20-VLSFO Index Slips for First in Five Sessions
Bunker fuel prices declined at most ports on Tuesday, with global average VLSFO prices dropping for the first in five trading sessions.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports lost $0.50/mt to $577/mt on Tuesday, having reached the highest level since December 5 the previous day.
The G20-HSFO Index jumped by $5.50/mt to $507/mt, while the G20-MGO Index rose by $2.50/mt to $759.50/mt.
ICE Brent crude futures declined by $0.72/bl to $73.19/bl on Tuesday.
VLSFO prices at the top four ports were mixed in direction. At Singapore prices gained $2.50/mt to $552/mt, at Rotterdam they declined by $2/mt to $509.50/mt, at Fujairah they rose by $2.50/mt to $546.50/mt, and at Houston they slipped by $5.50/mt to $553.50/mt.
On Wednesday morning Brent futures were trading up by $0.01/bl from the previous session's close at $73.20/bl as of 6:48 AM in London. In metric tonne terms that would be equivalent to a $0.08/mt rise in bunker prices.