BUNKER PRICES: G20-VLSFO Index Jumps to Three-Week High

by Ship & Bunker News Team
Thursday May 25, 2023

Bunker fuel prices advanced at most ports on Wednesday, with average global VLSFO prices hitting the highest level in more than three weeks.

Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports rose by $11/mt to $596/mt on Wednesday, reaching the highest level since May 2. The G20-HSFO Index gained $5/mt to $492/mt, while the G20-MGO Index climbed by $6.50/mt to $779/mt.

ICE Brent crude futures gained $1.52/bl to $78.36/bl on Wednesday.

VLSFO prices at the top ports had a positive trend. At Singapore prices rose by $5/mt to $583.50/mt, at Rotterdam they advanced by $11.50/mt to $539.50/mt, at Fujairah they jumped by $12.50/mt to $574.50/mt, and at Houston they climbed by $11.50/mt to $537/mt.

On Thursday morning Brent crude futures were trading down by $0.78/bl at $77.58/bl as of 9:45 AM in London. In metric tonne terms that would be equivalent to a $5.87/mt fall in bunker prices.