Spot prices for high sulfur bunker fuel climbed 1.3 percent in the week ending July 5, rebounding from the week before when it stood at its lowest average since June 2012, according to daily BunkerVision price data via international marine fuel oil broker LQM Petroleum Services.
The average price for high sulfur bunker fuel in Rotterdam, a global indicator of bunker prices, was $584.75 per metric ton, up $7.35 from the week before. One metric ton is equivalent to about 6.4 barrels or 300 gallons. The price increase for the week ending July 5 gained back nearly half of the $15.30 in price decline from the week before. The average spot price is now up 0.8 percent year-over-year, but 1.8 percent or $11 lower than it was at the beginning of 2013. Prices have increased year-over-year for the past five weeks, although increases have been less in the past two weeks.
Low sulfur spot prices averaged $606.13 per metric ton in the week ending July 5, inching down 0.1 percent or 88 cents per metric ton from the prior week, the second straight weekly drop. The current price is down 3.8 percent from the same week in 2012 and off 2.5 percent or $15.25 from the first week of 2013.