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Bunker prices mostly declined at ports around the world on Tuesday, with global average VLSFO prices falling to its lowest level in more than a week.
Ship & Bunker‘s G20-VLSFO Index of prices across 20 leading bunkering ports fell by $25.50/mt to $562.50/mt on Tuesday, reaching its lowest level since June 13.
The G20-HSFO Index fell by $30.50/mt to $477.50/mt, while the G20-MGO Index sank by $36/mt to $769/mt.
ICE Brent crude futures dropped by $4.34/bl to $67.14/bl on Tuesday.
VLSFO prices at the top four ports followed a negative trend. At Singapore prices fell by $40.50/mt to $530/mt, at Rotterdam they declined by $43/mt to $489/mt, at Fujairah they sank by $42/mt to $518/mt, and at Houston they dropped by $35.50/mt to $511/mt.
On Wednesday morning Brent crude futures were trading up by $0.82/bl from the previous session’s close at $68.06/bl as of 5:19 AM in London. In metric tonne terms that would be equivalent to a $1.37/mt rise in bunker prices.