World News
Crude Markets Bullish for a Second Day
by Tim Bonett, 
Tuesday April 12, 2016
A second straight day of bullish news sent crude to new 2016 settlement highs.
It was reported that Russia has agreed with Saudi Arabia to an output freeze regardless of Iran's involvement in the deal.
The news has given new hope to investors that OPEC members are taking the supply glut seriously.
This came on the heals of a US government forecast that expects crude output to fall throughout 2017.
Bunker prices were quite firm in the primary ports.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 510.00 | 2.50 | 611.00 | 4.00 |
| Rotterdam | 477.00 | 1.00 | 618.50 | 4.00 |
| Houston | 469.50 | 0.50 | 610.00 | 2.00 |
| Fujairah | 501.50 | 1.50 | 708.50 | 3.50 |
| Global 20 Ports Average | 532.00 | 2.00 | 711.50 | 0.00 |
| Global 4 Ports Average | 489.50 | 0.50 | 637.00 | 0.50 |
| Global Average Bunker Price | 571.00 | 1.00 | 759.00 | 0.50 |
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