Americas News
Houston Bunker Prices Creep Up as WTI Rises Over $100
Bunker prices in Houston today made a second day of gains as WTI rose above $100/bbl for first time since September of 2012, but the movements were small in comparison to the gains made by crude.
IFO380 at the port today was up $2.00 to $580.00 per metric tonne (pmt), a change of $+9.00 week-on-week compared to a gain of $5.74 for WTI in that time.
Ship & Bunker data showed the grade doubled its discount to Rotterdam to $6.00, from $3.00 this time last week.
Explaining the rise in crude, market watchers pointed to growing political trouble in Egypt, and an American Petroleum Institute report saying crude supplies had fallen three times more than expected for the week ended June 28.
Low sulfur 380 cSt product (LS380) in Houston rose $1.00 to $631.00 making the premium for the Emissions Control Area (ECA) compliant fuel $51.00 pmt, while MGO gained $4.50 to $968.50 pmt.
