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 | 571.00 | 1.50 | 685.50 | 5.50 |
| Rotterdam | 516.50 | 1.50 | 677.50 | 3.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 565.00 | 4.50 | 755.00 | 1.50 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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