World News
BUNKER PRICES: G20-VLSFO Index Drops to One-Week Low
Bunker fuel prices fell at most ports on Tuesday, with global average VLSFO prices declining to the lowest level in more than a week.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports lost $4/mt to $583.50/mt on Tuesday, reaching the lowest level since November 18.
The G20-HSFO Index declined by $2/mt to $488/mt, while the G20-MGO Index fell by $2.50/mt to $762.50/mt.
ICE Brent crude futures sank by $0.20/bl to $72.81/bl on Tuesday.
VLSFO prices at the top four ports followed a negative trend. At Singapore prices lost $4.50/mt to $565.50/mt, at Rotterdam they declined by $3.50/mt to $512/mt, at Fujairah they slipped by $7.50/mt to $555.50/mt, and at Houston they dropped by $3/mt to $552/mt.
On Wednesday morning Brent futures were trading up by $0.31/bl from the previous session's close at $73.12/bl as of 7:51 AM in London. In metric tonne terms that would be equivalent to a $2.33/mt rise in bunker prices.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 556.50 | 9.00 | 685.00 | 6.50 |
| Rotterdam | 506.00 | 6.00 | 665.00 | 11.00 |
| Houston | 552.50 | 0.50 | 682.00 | 4.00 |
| Fujairah | 548.00 | 7.50 | 750.00 | 3.00 |
| Global 20 Ports Average | 583.50 | 4.00 | 762.50 | 2.50 |
| Global 4 Ports Average | 546.50 | 4.50 | 697.50 | 2.50 |
| Global Average Bunker Price | 632.50 | 2.00 | 811.00 | 1.50 |
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