World News
Crude Flat as Concerns Raised Over a Record Number of Bullish Bets
Monday February 27, 2017
Oil prices traded flat to open the week though with the usual peaks and valleys during the day.
The big news is the record number of bullish bets in both benchmarks that has caused some concern for the amount of risk present for a drastic selloff.
OPEC's level of compliance has already been priced in to levels and the stability of prices remains heavily on its' shoulders.
Bunker prices were stable to firm in the primary ports.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 646.50 | 5.50 | 773.50 | 11.50 |
| Rotterdam | 604.00 | 5.00 | 756.00 | 5.00 |
| Houston | 630.50 | 1.00 | 798.50 | 4.00 |
| Fujairah | 650.50 | 3.00 | 897.00 | 13.50 |
| Global 20 Ports Average | 662.50 | 1.00 | 858.50 | 0.50 |
| Global 4 Ports Average | 633.00 | 3.50 | 806.00 | 6.50 |
| Global Average Bunker Price | 718.50 | 0.50 | 914.00 | 1.00 |
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