EMEA News
Crude Futures Surge as US and Israel Strike Energy Infrastructure in Iran
Crude futures jumped sharply on Wednesday afternoon on the news that US and Israeli forces have attacked key Iranian energy infrastructure.
The US and Israel attacked the South Pars gas field in Iran - the world's largest - on Wednesday, causing a fire, Iranian news agency Tasnim reported.
Firefighters are at the scene to bring the fire under control, according to the report.
Brent crude futures surged after the news emerged.
The ICE May Brent contract traded at $108.25/bl as of 1:18 PM in London, up from the day's low of $100.49/bl and compared to Tuesday's closing level of $103.42/bl.
An escalation of the war to bring Iranian energy facilities under deliberate attack would be likely severely to prolong the impact of the conflict on global markets.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 1076.50 | 43.00 | 1807.00 | 58.50 |
| Rotterdam | 764.00 | 8.50 | 1179.00 | 4.50 |
| Houston | 778.00 | 10.50 | 1212.00 | 11.00 |
| Fujairah | 1060.50 | 24.50 | 1651.50 | 2.00 |
| EMEA Average | 871.50 | 2.50 | 1333.00 | 35.50 |
| Global 20 Ports Average | 1017.00 | 19.50 | 1493.50 | 27.50 |
| Global 4 Ports Average | 919.50 | 22.00 | 1462.50 | 11.00 |
| Global Average Bunker Price | 1015.00 | 3.50 | 1445.50 | 26.00 |
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