Global VLSFO prices have been dropping all week following the ceasefire in the Middle. Bunker prices mostly declined at ports around the world on Thursday, with global average VLSFO prices falling for a fourth consecutive day, Ship & Bunker reported.
Ship & Bunker's G20-VLSFO Index of prices across 20 leading bunkering ports fell by $1.50/mt to $556/mt on Thursday, remaining at its lowest level since June 12.
The G20-HSFO Index rose by $3.50/mt to $478/mt, while the G20-MGO Index sank by $6.50/mt to $755/mt.
ICE Brent crude futures advanced by $0.05/bl to $67.73/bl on Thursday.
VLSFO prices at the top four ports mostly followed a negative trend. At Singapore prices fell by $2/mt to $520/mt, at Rotterdam they slipped by $6.50/mt to $490.50/mt, at Fujairah they sank by $1.50/mt to $513.50/mt, and at Houston they rallied by $0.50/mt to $480/mt.
On Friday morning Brent crude futures were trading up by $0.35/bl from the previous session's close at $68.08/bl as of 5:14 AM in London. In metric tonne terms that would be equivalent to a $2.64/mt rise in bunker prices.