World News
Crude Benchmarks Unfazed by Unrest in the Middle East
by Tim Bonett, 
Monday July 28, 2014
Crude benchmarks seemed unfazed by the continued civil unrest in the middle east.
A day after the U.S. embassy was evacuated a U.K. diplomatic convoy was fired on in Libya but it had a marginal effect on crude.
Unfortunately this is becoming the norm rather than the exception.
After taking profits to end last week, investors sensed the market is currently oversupplied and futures ended the day in the red.
It remains to be seen what the rest of the week will have in store as more earnings and a jobs report will be released but we caution those holding on orders for lower prices.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.00 | 0.00 | 770.00 | 5.00 |
| Rotterdam | 602.50 | 1.00 | 762.00 | 2.50 |
| Houston | 630.50 | 4.00 | 796.50 | 2.50 |
| Fujairah | 648.50 | 0.50 | 900.00 | 4.50 |
| Global 20 Ports Average | 666.00 | 2.00 | 856.00 | 1.00 |
| Global 4 Ports Average | 632.50 | 0.50 | 807.00 | 1.00 |
| Global Average Bunker Price | 715.50 | 1.00 | 893.00 | 8.00 |
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