Spot prices for high sulfur bunker fuel continued to climb in the week ending July 19, surpassing the $600 per metric ton line for the first time since April 5, according to daily BunkerVision price data via international marine fuel oil broker LQM Petroleum Services. During the past three weeks, prices have surged 5 percent or $28.30.
The average price for high sulfur bunker fuel in Rotterdam, a global indicator of bunker prices, was $605.70 per metric ton, up 1 percent or $5.80 from the week before. One metric ton is equivalent to about 6.4 barrels or 300 gallons. A jump to $612.50 on Friday pulled the average up. The average spot price was down 0.3 percent year-over-year, but up 1.7 percent or $10 from the beginning of 2013. This was the first year-over-year decrease in seven weeks.
Low sulfur spot prices averaged $613.20 per metric ton in the week ending July 19, edging up 0.3 percent or $2 per metric ton from the prior week. The average price reached its highest level in nearly a month. The current price is down 6.9 percent from the same week in 2012 and down 1.3 percent or $8.17 from the first week of 2013.