World News
Crude Soft as Market Takes a Breath
by Tim Bonett, 
Monday May 23, 2016
Some of the supply factors that have been supporting the recent surge in crude pricing have been corralled for the time being.
As a result the market was able to take a deep breath today and crude deflated a bit.
Cooler temperatures and rainfall in Canada have allowed oil workers to return, however there is no timetable for when production will be back up to speed.
Meanwhile, the speculation of a rate hike will continue to pressure prices in the near term until a decision has been made.
Bunker prices were softer in the primary ports.
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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