World News
BUNKER PRICES: G20-VLSFO Index Drops to Near Two-Week Low
Bunker fuel prices sank at most ports on Wednesday, with global average VLSFO prices dropping to the lowest level in almost two weeks.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports fell by $8/mt to $616/mt on Wednesday, reaching the lowest level since August 23.
The G20-HSFO Index declined by $8.50/mt to $488.50/mt, while the G20-MGO Index sank by $13.50/mt to $754.50/mt.
ICE Brent crude futures fell by $1.05/bl to $72.70/bl on Wednesday, the lowest closing level since July 2023.
VLSFO prices at the top four ports followed a negative trend. At Singapore prices lost $8/mt to $624.50/mt, at Rotterdam they fell by $9.50/mt to $538.50/mt, at Fujairah they slipped by $6/mt to $611.50/mt, and at Houston they dropped by $23.50/mt to $526.50/mt.
On Thursday morning Brent futures were trading up by $0.23/bl from the previous session's close at $72.93/bl as of 5:37 AM in London. In metric tonne terms that would be equivalent to a $1.73/mt rise in bunker prices.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.50 | 1.50 | 666.50 | 3.50 |
| Rotterdam | 515.00 | 1.50 | 662.50 | 0.50 |
| Houston | 542.50 | 5.00 | 656.50 | 2.00 |
| Fujairah | 560.50 | 6.50 | 742.00 | 4.50 |
| Global 20 Ports Average | 585.00 | 3.00 | 749.50 | 1.00 |
| Global 4 Ports Average | 547.50 | 3.50 | 682.00 | 0.50 |
| Global Average Bunker Price | 634.00 | 2.00 | 805.50 | 1.50 |
Popular Now More
-
Nov 11Ship & Bunker explores whether legal and compliance concerns are starting to outweigh the apps' unquestioned convince. -
Nov 11OFAC says efforts to evade sanctions are becoming increasingly sophisticated. -
Nov 14The concern is that WhatsApp and other services can be used for conversations without the normal scrutiny that would cover conversations over work email or similar monitored services.