World News
Crude Future Continue to Soften
by Tim Bonett, 
Tuesday January 19, 2016
Crude benchmarks continue to be weighed down by dismal demand outlooks for 2016.
The market saw a brief rally today as traders covered short positions and China reported oil demand hit a record high in 2015 but the oversupply situation remains.
Iranian barrels are set to compound the problem but there is some dissention as to when and how they will effect the global market.
Both Brent and WTI were in the red by days end with bunker prices softening in the primary ports.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 502.00 | 7.00 | 617.00 | 6.00 |
| Rotterdam | 455.00 | 8.00 | 619.50 | 4.00 |
| Houston | 467.00 | 4.50 | 625.00 | 2.50 |
| Fujairah | 495.00 | 6.00 | 712.50 | 1.50 |
| Global 20 Ports Average | 524.50 | 4.50 | 710.50 | 4.00 |
| Global 4 Ports Average | 479.50 | 6.50 | 643.50 | 3.50 |
| Global Average Bunker Price | 570.50 | 2.00 | 747.50 | 5.50 |
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