Bunker prices mostly sank at ports around the world on Wednesday, with global average VLSFO prices dropping to their lowest level in almost five years.

Ship & Bunker‘s G20-VLSFO Index of prices across 20 leading bunkering ports sank by $5.50/mt to $490/mt on Wednesday, reaching its lowest level since February 2021.

The G20-HSFO Index declined by $0.50/mt to $433.50/mt, while the G20-MGO Index lost $6/mt to $742/mt.

ICE Brent crude futures dropped by $0.48/bl to $61.91/bl on Wednesday.

VLSFO prices at the top four ports mostly followed a negative trend. At Singapore prices fell by $3.50/mt to $449.50/mt, at Rotterdam they advanced by $2/mt to $430/mt, at Fujairah they sank by $3.50/mt to $446.50/mt, and at Houston they dropped by $3.50/mt to $439.50/mt.

On Thursday morning Brent crude futures were trading up by $0.44/bl from the previous session’s close at $62.35/bl as of 6:33 AM in London. In metric tonne terms that would be equivalent to a $3.31/mt rise in bunker prices.