World News
BUNKER PRICES: G20-VLSFO Index Climbs to Three-Week High
Bunker fuel prices advanced at most ports on Friday, with global average VLSFO prices rising to the highest level in almost three weeks.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports gained $4.50/mt to $612.50/mt on Friday, reaching the highest level since March 15. The G20-HSFO Index rose by $9.50/mt to $485.50/mt, while the G20-MGO Index was little changed at $865/mt.
ICE Brent crude futures gained $1.29/bl to $79.89/bl on Friday.
VLSFO prices at the top ports mostly followed a positive trend. At Singapore prices rose by $1/mt to $578/mt, at Rotterdam they advanced by $6.50/mt to $570.50/mt, at Fujairah they climbed by $4/mt to $574.50/mt and at Houston they slipped by $0.50/mt to $575.50/mt.
On Monday morning Brent futures were trading up by $4.49/bl at $84.38/bl as of 9:47 AM in London. In metric tonne terms that would amount to a $33.81/mt jump in bunker prices. The oil market has surged after a surprise announcement of a cut in OPEC+ crude production over the weekend.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 634.00 | 10.50 | 747.00 | 35.00 |
| Rotterdam | 574.00 | 16.00 | 738.50 | 12.00 |
| Houston | 595.50 | 13.00 | 762.50 | 14.50 |
| Fujairah | 624.50 | 18.50 | 867.50 | 24.00 |
| Global 20 Ports Average | 645.00 | 13.50 | 832.00 | 16.50 |
| Global 4 Ports Average | 607.00 | 14.50 | 779.00 | 21.50 |
| Global Average Bunker Price | 707.50 | 5.50 | 892.00 | 2.00 |
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