Global VLSFO prices remain well below their position at the start of the year. Image Credit: Ship & Bunker
Bunker fuel prices climbed at most ports on Monday, with average global VLSFO prices advancing to the highest level in almost two weeks.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports rose by $11/mt to $594.50/mt on Monday, reaching the highest level since May 24. The G20-HSFO Index advanced by $10/mt to $494.50/mt, while the G20-MGO Index jumped by $17.50/mt to $781.50/mt.
ICE Brent crude futures gained $0.58/bl to $76.71/bl on Monday.
VLSFO prices at the top ports had a positive trend. At Singapore prices rose by $24/mt to $585.50/mt, at Rotterdam they climbed by $14/mt to $548.50/mt, at Fujairah they advanced by $19/mt to $566.50/mt, and at Houston they gained $11/mt to $531/mt.
On Tuesday morning Brent crude futures were trading down by $1.11/bl at $75.60/bl as of 8:20 AM in London. In metric tonne terms that would be equivalent to an $8.36/mt fall in bunker prices.