Global VLSFO prices are on the rise this week. Image Credit: Ship & Bunker
Bunker fuel prices advanced at ports around the world on Tuesday, with global average VLSFO prices climbing to the highest level in almost three weeks.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports gained $3/mt to $555.50/mt on Tuesday, reaching its highest level since March 6.
The G20-HSFO Index rose by $2/mt to $492.50/mt, while the G20-MGO Index climbed by $3.50/mt to $754.50/mt.
ICE Brent crude futures rose by $0.02/bl to $73.02/bl on Tuesday.
VLSFO prices at the top four ports mostly followed a positive trend. At Singapore prices gained $3/mt to $522.50/mt, at Rotterdam they rose by $1.50/mt to $498/mt, at Fujairah they advanced by $4.50/mt to $519.50/mt, and at Houston they slipped by $1/mt to $529/mt.
On Wednesday morning Brent futures were trading up by $0.14/bl from the previous session's close at $73.16/bl as of 8:11 AM in London. In metric tonne terms that would be equivalent to a $1.05/mt rise on the day in bunker prices.
