World News
Crude Edges Down After a Choppy Day in the Market
by Tim Bonett, 
Wednesday May 18, 2016
It was a choppy day in the market as prices found pressure from a strong dollar while being supported from demand in refined products.
The Fed's April meeting hinted at raising rates as early as June making the dollar to spike and having an adverse effect on crude.
Meanwhile, the EIA reported an unexpected rise in crude stockpiles but a strong drawdown in gasoline and distillates which many expect to support prices in the near term.
Bunker prices were stable in the primary ports.
WTI June $48.19/bbl down -$0.12
Brent July $48.93/bbl down -$0.35
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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