IE WEEK: Termoil Sees Bunker Margins Improving in ...
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Bunker prices mostly declined at ports around the world on Thursday, with global average VLSFO prices declining for the first in three days.
Ship & Bunker‘s G20-VLSFO Index of prices across 20 leading bunkering ports fell by $2/mt to $557.50/mt on Thursday, having reached its highest level since June 24 the previous day.
The G20-HSFO Index rose by $2/mt to $469.50/mt, while the G20-MGO Index slipped by $1.50/mt to $785.50/mt.
ICE Brent crude futures sank by $1.55/bl to $68.64/bl on Thursday.
VLSFO prices at the top four ports followed a negative trend. At Singapore prices fell by $5/mt to $530.50/mt, at Rotterdam they declined by $7/mt to $520.50/mt, at Fujairah they slipped by $1.50/mt to $522/mt, and at Houston they dropped by $3/mt to $497/mt.
On Friday morning Brent crude futures were trading up by $0.13/bl from the previous session’s close at $68.77/bl as of 5:31 AM in London. In metric tonne terms that would be equivalent to a $0.98/mt rise in bunker prices.