Global VLSFO prices are heading lower. Image Credit: Ship & Bunker
Bunker fuel prices fell at most ports on Monday, with global average VLSFO prices declining for the first in three consecutive trading sessions.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports lost $1.50/mt to $622.50/mt on Monday, having reached the highest level since October 3 in the previous session.
The G20-HSFO Index slipped by $1.50/mt to $517.50/mt, while the G20-MGO Index fell by $0.50/mt to $765.50/mt.
ICE Brent crude futures slipped by $1.58/bl to $77.46/bl on Monday.
VLSFO prices at the top four ports followed a negative trend. At Singapore prices lost $5.50/mt to $614.50/mt, at Rotterdam they declined by $0.50/mt to $562.50/mt, at Fujairah they dropped by $1.50/mt to $603/mt, and at Houston they slipped by $1.50/mt to $564/mt.
On Tuesday morning Brent futures were trading down by $2.27/bl from the previous session's close at $75.19/bl as of 5:14 AM in London. In metric tonne terms that would be equivalent to a $17.09/mt fall in bunker prices.
