World News
Stockpiles Build, Crude Still Rises
by George Belekos, 
Wednesday April 27, 2016
Despite a stronger-than-expected build in stockpiles crude benchmarks finished the day on a high note.
This morning's EIA report provided bearish news but the pressure on prices was lifted as the dollar continued to fade and US oil production shows it is slowing down.
The pace of this slowdown will not set any speed records but is enough to give hope to the market that a global supply correction is taking place.
Bunker prices continued to firm in the primary ports.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.50 | 2.00 | 778.50 | 8.50 |
| Rotterdam | 602.00 | 0.50 | 748.00 | 6.00 |
| Houston | 624.00 | 5.00 | 792.00 | 3.50 |
| Fujairah | 649.50 | 2.00 | 898.00 | 3.00 |
| Global 20 Ports Average | 662.00 | 2.00 | 855.00 | 1.50 |
| Global 4 Ports Average | 631.00 | 1.00 | 804.00 | 0.50 |
| Global Average Bunker Price | 717.50 | 0.50 | 913.50 | 1.00 |
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