World News
Trafigura Sees Oil Prices Dropping Into $60s/Bl
An executive from global oil trading firm Trafigura has raised the possibility of oil prices dropping into the $60s/bl.
Ben Luckock, global head of oil at Trafigura, discussed the possibility during an appearance at the Asia Pacific Petroleum Conference in Singapore on Monday, news agency Reuters reported.
The market will be waiting to see if OPEC returns to plans to ease off on output cuts, the report cited Luckock as saying.
Trafigura has typically been more bullish than its peers on oil prices in the past.
In another APPEC presentation Torbjorn Tornqvist, chairman of trading firm Gunvor, said around $70/bl was the current 'fair value' for oil, according to the report.
ICE Brent crude futures have dropped by 16.3% in price since a recent peak of $85.82/bl on July 4.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.00 | 1.50 | 685.50 | 5.50 |
| Rotterdam | 516.50 | 1.50 | 677.50 | 3.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 565.00 | 4.50 | 755.00 | 1.50 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
Popular Now More
-
Nov 21CCO Christoffer Berg Lassen is stepping down from the company to be replaced by Anders Grønborg, while Peder Møller becomes its first chief operating officer. -
Nov 20The ISO 6853:2024 specifications, the first of their kind, cover the general requirements and properties for methanol specifically being used as marine fuel. -
Nov 21CTI-Maritec reports on undeclared quantities of cashew nut shell liquid found in VLSFO samples from Rotterdam and Singapore.