Global VLSFO prices are on the rise. Image Credit: Ship & Bunker

Bunker prices mostly advanced at ports around the world on Tuesday, with global average VLSFO prices following crude futures higher.

Ship & Bunker‘s G20-VLSFO Index of prices across 20 leading bunkering ports jumped by $2.50/mt to $555.50/mt on Tuesday, having reached its lowest level since July 2 the previous day.

The G20-HSFO Index rose by $2/mt to $467.50/mt, while the G20-MGO Index jumped by $2.50/mt to $774.50/mt.

ICE Brent crude futures rose by $0.57/bl to $70.15/bl on Tuesday.

VLSFO prices at the top four ports followed a positive trend. At Singapore prices rose by $1.50/mt to $529/mt, at Rotterdam they advanced by $8/mt to $519.50/mt, at Fujairah they climbed by $1.50/mt to $520.50/mt, and at Houston they jumped by $6/mt to $501/mt.

On Wednesday morning Brent crude futures were trading down by $0.22/bl from the previous session’s close at $69.93/bl as of 6:46 AM in London. In metric tonne terms that would be equivalent to a $1.66/mt fall in bunker prices.