Bunker prices advanced for a sixth consecutive session on Monday. File Image / Pixabay
Bunker fuel prices advanced for a sixth consecutive session at most ports on Monday, leaving global VLSFO at the highest level in seven weeks.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports gained $4/mt to $663/mt on Monday, the highest level since December 6. The G20-HSFO Index advanced by $5/mt to $452/mt, while the G20-MGO Index jumped by $9/mt to $1,031.50/mt.
ICE Brent crude futures lost $0.82/bl to $84.46/bl on Monday.
VLSFO prices at the top ports had a similar positive trend. At Singapore prices advanced by $8.50/mt to $638.50/mt, at Rotterdam they rose by $7.50/mt to $578.50/mt, at Fujairah they climbed by $6.50/mt to $633.50/mt and at Houston they rose by $7/mt to $632/mt.
On Tuesday morning Brent futures were trading up by $0.83/bl at $85.29/bl as of 9:07 AM in London. In metric tonne terms that would amount to a $6.25/mt advance in bunker prices.