World News
WTI Settles Above $50/bbl
by Tim Bonett, 
Tuesday June 7, 2016
WTI settled above $50/bbl for the first time since last years oil decline and may have the support to continue to climb.
The rebel situation in Nigeria continues to bolster the market with the threat of halted output looming.
Meanwhile a drawdown almost 3 million barrels is expected in this weeks US stockpiles report.
Unscheduled supply interruptions and significant draws in inventories points to all green across oil markets.
Bunker prices were firm in the primary ports.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.00 | 6.00 | 762.00 | 5.50 |
| Rotterdam | 599.00 | 1.00 | 751.00 | 0.50 |
| Houston | 618.00 | 11.50 | 802.50 | 6.50 |
| Fujairah | 642.00 | 5.50 | 883.50 | 5.50 |
| Global 20 Ports Average | 661.50 | 3.50 | 859.00 | 5.00 |
| Global 4 Ports Average | 629.50 | 1.00 | 799.50 | 1.50 |
| Global Average Bunker Price | 719.00 | 3.50 | 915.00 | 7.50 |
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