World News
Volatility Rules the Day for Crude
by Tim Bonett, 
Thursday May 12, 2016
Volatility ruled the day as the market tried to make sense of the days data points.
Growth in demand was forecasted for 2016 from the International Energy Agency however stockpiles are expected to build at Cushing as production out of Canada comes back online.
The dollar rose giving oil some further pressure and finishing off a mixed day of trading.
Bunker prices followed suit but were somewhat firmer by days end.
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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