EMEA News
Crude Futures Climb Again After Iran Denies Talks With the US
Crude futures rose on Tuesday morning, reversing sharp losses from the previous day after Iran denied holding any talks with the US, contradicting comments from President Donald Trump.
The ICE May Brent contract traded at $104.16/bl as of 4:44 AM in London, up by $4.22/bl from a settlement of $99.94/bl on Monday.
Oil prices had dropped more than sharply on Monday after Trump said the US and Iran had held “very good and productive” discussions and suggested a potential breakthrough in the ongoing conflict.
However, Iranian officials rejected those claims, stating that no negotiations had taken place
“No negotiations have been held with the US, and fake news is used to manipulate the financial and oil markets and escape the quagmire in which the US and Israel are trapped,” Mohammad Bagher Ghalibaf, Iranian Parliament Speaker, said in a social media post on Monday.
President Trump had ordered a five-day postponement of any strikes against Iranian energy infrastructure in a social media post on Monday, following talks with Iran.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 986.00 | 29.50 | 1940.00 | 117.50 |
| Rotterdam | 829.50 | 18.00 | 1397.50 | 39.00 |
| Houston | 808.00 | 28.50 | 1295.00 | 20.50 |
| Fujairah | 1039.00 | 35.50 | 1792.00 | 47.50 |
| EMEA Average | 952.50 | 11.00 | 1512.00 | 31.00 |
| Global 20 Ports Average | 1035.50 | 17.50 | 1623.00 | 21.50 |
| Global 4 Ports Average | 915.50 | 28.00 | 1606.00 | 46.00 |
| Global Average Bunker Price | 1047.00 | 21.00 | 1549.00 | 17.00 |
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