Global VLSFO prices slipped for the first time this year on Tuesday. Image Credit: Ship & Bunker
Bunker fuel prices declined at most ports around the world on Tuesday, with global average VLSFO prices slipping for the first in seven consecutive sessions.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports lost $0.50/mt to $587/mt on Tuesday, having stood at its highest level since November 26 the previous day.
The G20-HSFO Index fell by $2/mt to $499/mt, while the G20-MGO Index dropped by $7.50/mt to $768.50/mt.
ICE Brent crude futures jumped by $0.75/bl to $77.05/bl on Tuesday.
VLSFO prices at the top four ports mostly followed a positive trend. At Singapore prices lost $2.50/mt to $567.50/mt, at Rotterdam they advanced by $3/mt to $532/mt, at Fujairah they jumped by $1/mt to $562/mt, and at Houston they rose by $7.50/mt to $573.50/mt.
On Tuesday morning Brent futures were trading up by $0.29/bl from the previous session's close at $76.34/bl as of 7:50 AM in London. In metric tonne terms that would be equivalent to a $2.18/mt rise on the day in bunker prices.
