World News
Crude Markets Fall Back from Multi-Month Highs
Crude markets fell from their multi-month highs and gave back some of their recent gains today as things cooled in Syria and investors sold off after the two-day run-up.
Prices dropped as news read that western nations would wait for results from a United Nations investigation into the alleged use of chemical weapons before engaging in any military strikes.
The news helped reduce fears that there would be imminent supply disruptions in the region.
In the states, jobless claims dropped last week, indicating to investors that stimulus efforts will likely be trimmed soon and could reduce oil demand.
Investors took today's news as a chance to lock in their profits, helping to weigh down prices.
Bunker prices were slower to react to the crude markets today, though, as prices in the primary report remained stable to firm.
WTI fell $1.30 to settle at $108.80/bbl, while Brent shed $1.45, settling at $115.16.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 502.00 | 4.50 | 617.00 | 5.50 |
| Rotterdam | 457.50 | 2.50 | 623.50 | 6.50 |
| Houston | 469.00 | 3.50 | 623.00 | 2.00 |
| Fujairah | 494.50 | 6.50 | 715.50 | 5.50 |
| Global 20 Ports Average | 526.00 | 3.00 | 712.50 | 11.50 |
| Global 4 Ports Average | 481.00 | 4.00 | 645.00 | 4.50 |
| Global Average Bunker Price | 569.00 | 2.00 | 750.00 | 5.50 |
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