World News
Crude Benchmarks Mostly Flat
by Tim Bonett, 
Tuesday September 6, 2016
Crude benchmarks were mostly flat, a day after rising on positive comments from Saudi Arabia and Russia that they would form a joint initiative to monitor oil prices.
Skepticism abounds on this arrangement but it is an indicator that the big oil players are considering changes to cap output.
The one bright spot for WTI today was the expected draw at Cushing later this week.
Bunker prices were mostly stable in the primary ports.
WTI October $44.83/BBL UP $0.39/BBL
Brent November $47.26/BBL DOWN -$0.37/BBL
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 628.00 | 1.00 | 736.50 | 0.50 |
| Rotterdam | 569.00 | 10.00 | 730.50 | 23.00 |
| Houston | 591.00 | 3.50 | 770.50 | 6.00 |
| Fujairah | 626.50 | 4.50 | 886.50 | 5.00 |
| Global 20 Ports Average | 644.00 | 2.00 | 825.50 | 0.00 |
| Global 4 Ports Average | 603.50 | 0.50 | 781.00 | 3.00 |
| Global Average Bunker Price | 700.00 | 0.00 | 883.50 | 0.50 |
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