World News
Inventories Decline for 6th Straight Week
by Tim Bonett, 
Wednesday June 29, 2016
A 6th straight week of declining inventories boosted oil back up to and over the $50/bbl threshold.
A larger than expected draw helped spurn the rally along with a looming labor strike from the North Sea's largest oil producer.
Some speculators believe fundamentals have prices at near peak levels but uncertainty and volatility will be a mainstay.
Bunker prices continued on yesterdays momentum and were firm in the primary ports.
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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