BUNKER PRICES: G20-VLSFO Index Jumps to Four-Month High

by Ship & Bunker News Team
Tuesday March 19, 2024

Bunker fuel prices advanced at most ports on Monday, with global average VLSFO prices climbing to the highest level in almost four months.

Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports rose by $3.50/mt to $669.50/mt on Monday, reaching the highest level since November 23. The G20-HSFO Index rose by $9.50/mt to $528.50/mt, while the G20-MGO Index advanced by $5/mt to $886.50/mt.

ICE Brent crude futures jumped by $1.55/bl to $86.89/bl on Monday.

VLSFO prices at the top ports followed a positive trend. At Singapore prices gained $5.50/mt to $650.50/mt, at Rotterdam they advanced by $4/mt to $602.50/mt, at Fujairah they rose by $2.50/mt to $649.50/mt, and at Houston they climbed by $10.50/mt to $656/mt.

On Tuesday morning Brent futures were down by $0.17/bl from the previous session's close at $86.72/bl as of 6:40 AM in London. In metric tonne terms that would equate to a $1.28/mt fall in bunker prices.