Bunker fuel prices declined at most ports on Tuesday, with global VLSFO prices dropping for a sixth consecutive session, reports an article published on their website.
The fall in price
Ship & Bunker’s G20-VLSFO Index of prices across 20 leading bunkering ports lost $3.50/mt to $650.50/mt on Tuesday, remaining at the lowest point since January 12. The G20-HSFO Index rallied by $3.50/mt to $460/mt, while the G20-MGO Index advanced by $1.50/mt to $932.50/mt.
ICE Brent crude futures lost $1.02bl to $83.05/bl on Tuesday.
VLSFO prices at the top ports had a mixed trend. At Singapore prices fell by $2.50/mt to $619.50/mt, at Rotterdam they slipped by $3.50/mt to $574.50/mt, at Fujairah they dropped by $11.50/mt to $615/mt and at Houston they jumped by $14.50/mt to $627.50/mt.
On Wednesday morning Brent futures were trading down by $1.16/bl at $81.89/bl as of 10:18 AM in London. In metric tonner terms that would amount to an $8.73/mt fall in bunker prices.
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Source: Ship And Bunker