World News
Bunker Prices Stable as Crude Markets Make Mixed Movements
Crude markets were mixed today, with Brent positive throughout the day and WTI fluctuating before settling slightly lower.
Markets were moving up on news that Janet Yellen, the incoming Federal Reserve Chief, confirmed that stimulus efforts will stay in place.
Investors were relieved by the news, as the stimulus program in place has helped support demand for crude.
Additional support in Brent's climb today came from ongoing concerns about Libya's exports reaching the marketplace.
In the U.S., the EIA released their weekly inventory report this morning which showed gains in crude stockpiles, helping to push prices down for a short period.
Investors then focused more on the increase in refinery operations and the drop in gasoline and distillate inventories, which reversed the move and pushed prices higher.
By day's end, WTI settled down $0.12 at $93.76/bbl, while Brent pushed $1.42 higher, ending the session at $108.54/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 |
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