IE WEEK: Termoil Sees Bunker Margins Improving in ...
11 hours ago
Bunker prices mostly advanced at ports around the world on Wednesday, with global average VLSFO prices rising to the highest level in almost two weeks.
Ship & Bunker‘s G20-VLSFO Index of prices across 20 leading bunkering ports jumped by $4/mt to $559.50/mt on Wednesday, reaching its highest level since June 24.
The G20-HSFO Index rose by $1/mt to $468.50/mt, while the G20-MGO Index jumped by $12.50/mt to $787/mt.
ICE Brent crude futures rose by $0.04/bl to $70.19/bl on Wednesday.
VLSFO prices at the top four ports mostly followed a positive trend. At Singapore prices rose by $6.50/mt to $535.50/mt, at Rotterdam they advanced by $8/mt to $527.50/mt, at Fujairah they climbed by $3/mt to $523.50/mt, and at Houston they slipped by $1.50/mt to $500/mt.
On Thursday morning Brent crude futures were trading up by $0.11/bl from the previous session’s close at $70.30/bl as of 5:58 AM in London. In metric tonne terms that would be equivalent to a $0.83/mt rise in bunker prices.