World News
Pressure on Oil Prices Mounts as Japan Slips into Recession
by Tim Bonett, 
Monday November 17, 2014
Japan has unexpectedly slipped into a recession adding more pressure to oil prices.
Japan is the world's third largest oil consumer and this news comes at a delicate time when world demand is already not on par with supply.
As OPEC members continue to drag their feet on production considerations, the dollar is gaining strength further straining commodity prices such as oil.
With the OPEC meeting still 10 days away bunker buyers may want to hold onto requirements during the interim.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.50 | 1.00 | 770.00 | 3.50 |
| Rotterdam | 601.50 | 2.50 | 754.00 | 2.00 |
| Houston | 619.00 | 11.50 | 795.50 | 3.00 |
| Fujairah | 651.50 | 1.00 | 895.00 | 2.00 |
| Global 20 Ports Average | 664.00 | 1.50 | 856.50 | 2.00 |
| Global 4 Ports Average | 630.00 | 3.00 | 803.50 | 2.50 |
| Global Average Bunker Price | 718.00 | 0.50 | 914.50 | 0.50 |
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