World News
Brent at it's Lowest in Over a Year as Oil Prices Decline
by George Belekos, 
Tuesday August 12, 2014
Oil prices declined today as real supply and demand fundamentals have entered the picture.
Despite all the geo-political saber rattling and general malaise some sense of reality is coming into the market.
Demand is soft, supply is ample which should equate to lower prices.
Brent is at it’s lowest level in over a year while continuing to converge to the same levels as WTI.
Bunker prices were softer in the primary ports today.
Inventories are out tomorrow and will most likely determine the market for the remainder of the week.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 624.50 | 1.00 | 732.00 | 8.50 |
| Rotterdam | 571.00 | 3.00 | 758.00 | 16.50 |
| Houston | 591.50 | 4.00 | 760.00 | 5.50 |
| Fujairah | 629.00 | 0.50 | 877.50 | 3.00 |
| Global 20 Ports Average | 637.00 | 0.00 | 819.00 | 3.00 |
| Global 4 Ports Average | 604.00 | 0.00 | 782.00 | 5.50 |
| Global Average Bunker Price | 688.00 | 2.50 | 879.00 | 1.00 |
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