G20-VLSFO Index Advances To One Week High

Credit: Shaah Shahidh/Unsplash

Bunker fuel prices rallied at most ports on Tuesday, with average global VLSFO prices advancing to the highest level in almost a week, reports Ship&Bunker.

Ship & Bunker’s G20-VLSFO Index of prices across 20 leading bunkering ports rose by $7.50/mt to $601/mt on Tuesday, reaching the highest level since April 26. The G20-HSFO Index was little changed at $496.50/mt, while the G20-MGO Index sank by $8.50/mt to $795/mt.

ICE Brent crude futures lost $3.99/bl to $75.32/bl on Tuesday.

VLSFO prices at the top ports had a mixed trend. At Singapore prices advanced by $14.50/mt to $593/mt, at Rotterdam they climbed by $8.50/mt to $549/mt, at Fujairah they gained $8.50/mt to $583/mt and at Houston they sank by $8/mt to $542.50/mt.

On Wednesday morning Brent crude futures were trading down by $1.76/bl at $73.66/bl as of 9:38 AM in London. In metric tonne terms that would be equivalent to a $13.25/mt fall in bunker prices.

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Source: Ship&Bunker