Global VLSFO prices are slipping this week after a sharp rise over the summer. Image Credit: Ship & Bunker
Bunker fuel prices declined at most ports on Wednesday, with global average VLSFO prices slipping to the lowest level in more than a week.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports fell by $5/mt to $656.50/mt on Wednesday, reaching the lowest level since August 8. The G20-HSFO Index was little changed at $585.50/mt, while the G20-MGO Index advanced by $6/mt to $947.50/mt.
ICE Brent crude futures lost $1.44/bl to $83.45/bl on Wednesday.
VLSFO prices at the top ports had a negative trend. At Singapore prices fell by $3.50/mt to $647.50/mt, at Rotterdam they lost $5.50/mt to $610/mt, at Fujairah they declined by $4.50/mt to $641/mt, and at Houston they sank by $2/mt to $624.50/mt.
On Thursday morning Brent crude futures were trading up by $0.21/bl at $83.66/bl as of 9:40 AM in London. In metric tonne terms that would be equivalent to a $1.58/mt rise in bunker prices.