World News
Crude Futures Fall
by Mohammed Marzuq, 
Monday February 1, 2016
Crude futures fell today after Chinese economic data came to light showing weaker than expected prospects for one of the world’s largest crude consumers.
Last week’s bull rush was attributed to speculation that the Russians and Saudis were ready to talk about production cuts to alleviate the current supply glut.
Although the speculation was successful and helped push crude futures nearly 30%, the inevitable actuality is that we still have a way to go before any deal is struck, and that pressure will sustain on the market as Iranian barrels start pouring into the markets.
Bunkers were softer today in the primary ports and are heading in the direction favorable to bunker consumers.
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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