EMEA News
Crude Futures Jump Over 4% After Fresh US Strikes on Iran
Crude futures jumped on Monday morning after the US confirmed a new wave of attacks against Iran on Sunday.
The ICE September Brent contract traded at $79.13/bl as of 5:29 AM in London, up 4.1% from Friday's settlement of $76.01/bl.
“U.S. Central Command (CENTCOM) completed a new wave of offensive strikes against Iran, July 12, hitting dozens of targets at multiple locations with precision munitions to degrade Iran’s ability to continue attacking international shipping flowing through the Strait of Hormuz,” it said in a social media post on Monday.
The latest military action follows Saturday's attack on the container ship GFS Galaxy off the coast of Oman. The attack forced the crew to abandon the vessel.
Omani authorities later rescued 23 crew members, while one seafarer remains missing.
The strikes come as conflicting claims continue over the status of the Strait of Hormuz.
US says the vital waterway remains open to commercial shipping, while Iran has claimed it is closed.
The renewed hostilities have also cast doubt over the memorandum of understanding between the US and Iran aimed at easing tensions.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 963.00 | 26.00 | 1351.50 | 10.50 |
| Rotterdam | 766.00 | 3.00 | 1446.00 | 11.50 |
| Houston | 817.00 | 11.50 | 1421.00 | 1.00 |
| Fujairah | 981.00 | 12.00 | 1768.50 | 17.50 |
| EMEA Average | 917.50 | 14.00 | 1740.00 | 21.00 |
| Global 20 Ports Average | 929.50 | 10.50 | 1565.00 | 13.00 |
| Global 4 Ports Average | 882.00 | 13.50 | 1496.50 | 9.50 |
| Global Average Bunker Price | 978.50 | 20.00 | 1616.50 | 18.50 |
Popular Now More
-
Oct 23Rotterdam's bunker sales recovered slightly in Q3 from the previous quarter, but volumes remained well below year-earlier levels. -
Oct 23The acquisition includes eight bunkering vessels and a long-term lease for 28,000 m3 of tank capacity in Turkey.