World News
Crude Markets Start the Week Down
Crude markets start the week down after feeling pressure from easing tensions in Syria and higher production coming out of Libya and Nigeria.
This weekend Syria handed over its inventory of chemical weapons to international authorities as part of an agreement reached with the western countries.
Oil markets have been coming down since a diplomatic resolution around the Syria situation has reduced the probability of any military strikes and thus, any supply disruptions in the region.
Additional pressure came today as Libya continues to increase its production following labor disputes that shut down oil fields and export terminals and Nigeria restored operations at three of its pipelines that were vandalized.
Investors are now eyeing this week's EIA inventory report for a look at U.S. supply & demand.
WTI dropped $1.08 to settle at $103.59/bbl and Brent fell $1.06, settling at $108.16/bbl. Bunker prices were stable in the primary ports.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 504.50 | 2.50 | 620.00 | 3.00 |
| Rotterdam | 456.00 | 1.50 | 621.50 | 2.00 |
| Houston | 476.00 | 7.00 | 624.00 | 1.00 |
| Fujairah | 496.50 | 2.00 | 713.00 | 2.50 |
| Global 20 Ports Average | 526.50 | 0.50 | 712.00 | 0.50 |
| Global 4 Ports Average | 483.00 | 2.00 | 644.50 | 0.50 |
| Global Average Bunker Price | 570.50 | 1.50 | 751.00 | 1.00 |
Popular Now More
-
Apr 23Initial Ship & Bunker analysis shows ships would need to use between 17.6% and 23.3% biofuel in B100 terms to avoid penalty charges in 2028. -
Apr 24Suppliers in South Korea are already shifting to the use of MFMs, and barge fees are likely to rise in the country as a result, a local source tells Ship & Bunker. -
Apr 24FincoEnergies has partially acquired the business operations of bunker supplier Oliehandel Klaas de Boer.