World News
Oil Facilities Left Out of Israeli Strikes on Iran
A set of Israeli airstrikes on Iran overnight have left the country's energy infrastructure off their list of targets.
Israeli airstrikes early on Saturday targeted military bases in the west and south-west of Tehran, news agency the BBC reported.
Oil and gas infrastructure and nuclear facilities did not come under attack. The more limited scope of attacks may indicate an intention to deescalate tensions.
The oil market has come under significant pressure in recent weeks on concern Israel would select Iranian refineries and export terminals in response to earlier attacks from Iran. Destroying the export infrastructure on Kharg Island in particular could have led to a sharp drop in Iranian crude reaching the global market.
Iran is a significant fuel oil producer, as well as supplying much of the crude oil exported to China.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 608.50 | 3.00 | 656.00 | 3.00 |
| Rotterdam | 541.00 | 3.00 | 671.50 | 6.00 |
| Houston | 539.00 | 1.50 | 668.00 | 5.00 |
| Fujairah | 587.50 | 8.00 | 763.00 | 6.50 |
| Global 20 Ports Average | 606.50 | 2.50 | 750.00 | 1.00 |
| Global 4 Ports Average | 569.00 | 4.00 | 689.50 | 0.00 |
| Global Average Bunker Price | 648.00 | 2.50 | 813.50 | 2.50 |
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